MakerDAO, the decentralized autonomous organization behind the Maker Protocol, released a statement clarifying their involvement in a recent transaction involving the Maker Vault 30100 and the Oasis front end. MakerDAO emphasized that it has no control over any front-end vendors or products that allow end users to access the Maker Vault.
Maker Protocol is a decentralized smart contract system that allows anyone to access their services on Ethereum. This agreement is not directly associated with any particular front end or front end solution provider. Instead, front-end providers are free to connect to the Maker Protocol in a decentralized and permissionless manner.
“Given the recent transactions involving the Maker Vault 30100 and the Oasis frontend, it is necessary to explain the distinction between MakerDAO, the Maker Protocol, and third-party frontend providers to clarify MakerDAO’s involvement,” Maker said. tweet.
MakerDAO further emphasized that there is no available frontend connected to the Maker protocol developed or maintained by MakerDAO. Therefore, these front-end providers can control the smart contracts they deploy, allowing end users to interact with the Maker protocol. Therefore MakerDAO has no control over any third-party front-end provider smart contracts.
The recent transaction to change ownership of Maker Vault 30100 is not related to any official MakerDAO smart contract or MakerDAO directives. MakerDAO reiterated that their smart contracts are not controlled by the Oasis front-end smart contracts.
The Maker Protocol is an important part of the decentralized finance ecosystem, and its stability is paramount to the safety of its users. The MakerDAO statement aims to clarify its role in keeping the Maker protocol secure, while emphasizing that third-party front-end providers must exercise due diligence when deploying their smart contracts.
Overall, MakerDAO’s statement serves as a reminder of the importance of understanding the decentralized nature of the DeFi ecosystem. Users should be aware of the risks associated with interacting with smart contracts implemented by third-party vendors and take appropriate steps to protect themselves. As for MakerDAO, they are committed to being clear about decentralization, emphasizing that they have a limited role in the operation of the Maker Protocol.
- Top Analysts Short-Term Bitcoin, ETH and LTC Price Predictions
- Lido overtakes MakerDAO to dominate DeFi TVL with $5.9 billion
- MakerDAO Price Jumps 66.2% as DAI Firms and Investors Seek ‘Safe Haven’ After UST Crash
according to Kyptos