Behind the Stability of DAI Coin, There Is an Important Figure Rune Christensen

That figure is Rune Christensen, the founder of MakerDAO and former CEO of the Maker Foundation, two main pillars in the development of a lending system without intermediaries

The stability of DAI coin is largely attributed to an important figure who played a key role in realizing the concept of decentralized stablecoins.

This figure is Rune Christensen, the founder of MakerDAO and former CEO of the Maker Foundation, two main pillars in the development of a lending system without intermediaries on the Ethereum network.

Armed with a background in economics and a strong passion for decentralization, Rune has succeeded in changing the world’s perspective on digital currency.

Let’s find out more about who Rune Christensen is and how he has contributed to shaping the DeFi ecosystem globally!

Who is Rune Christensen?

Rune Christensen is a figure with a different educational background and a unique career path before being known as a pioneer of decentralized stablecoins.

He studied biochemistry at the University of Copenhagen, then continued his education at the Copenhagen Business School with a focus on economics and international business.

This combination of science and economic understanding later became a strong foundation in his steps to build a blockchain-based financial system.

Before delving into the world of crypto, Rune had run an export business that was engaged in recruiting foreign workers to teach English in China.

He actively managed this business while still pursuing higher education, which shows an entrepreneurial spirit that had grown since early on.

His interest in blockchain technology began to grow when he got to know Bitcoin, but only really focused on Ethereum in 2014.

From there, Rune began to explore the concept of stablecoins as a solution to the high volatility in the world of digital assets.

That idea was what led him to found MakerDAO in 2015, with the big goal of creating a decentralized stablecoin that could be used globally, which later became known as DAI.

The Birth of MakerDAO and the Mission of DAI Stablecoin

The birth of MakerDAO stems from the concern for the need for a stable cryptocurrency that remains completely decentralized.

Founder Rune Christensen saw that although Bitcoin and Ethereum brought great innovation to the digital financial system, both still faced a major challenge, namely extreme price volatility.

From there, the idea was born to create a stablecoin that does not depend on traditional financial institutions, either banks or monetary authorities.

MakerDAO’s main vision is to present a financial system without intermediaries that remains stable and can be accessed by anyone.

To realize this, MakerDAO developed DAI, a stablecoin whose value is pegged to $1.

Unlike other stablecoins that are usually backed by fiat reserves in banks, DAI is designed with a crypto collateral system, which makes it more transparent and independent from the influence of central institutions.

DAI issuance is carried out through a crypto collateral-based lending mechanism, originally known as Collateralized Debt Position (CDP), and now called Vault.

Through this system, users can lock their crypto assets as collateral, then mint DAI as a form of loan whose value depends on the size of the collateral.

With this approach, MakerDAO has succeeded in creating a stablecoin model that is not only stable, but also completely under the control of the community through smart contracts on the Ethereum network.

You might also be interested in: Collateralized Debt Positions: How to Pawn Assets in the DeFi World

The Role of the Maker Foundation and the Path to a True DAO

To accelerate the early development of MakerDAO and realize his vision in a structured way, Rune Christensen founded the Maker Foundation.

This institution was formed as a temporary entity tasked with building the technical, economic, and operational foundations of the Maker protocol.

Although MakerDAO was originally designed as a decentralized autonomous organization (DAO), in the early stages it needed a formal structure so that the project could grow efficiently and sustainably.

During this transition period, the Maker Foundation played a critical role in facilitating the development of the system, supporting the community, and bridging communication between developers, users, and other stakeholders.

However, in keeping with the goal of decentralization at the heart of the project, the Foundation’s existence is not permanent.

In 2021, the Maker Foundation was officially dissolved, marking a pivotal moment in MakerDAO’s journey.

All control over the protocol and policy direction was handed over to the community through the DAO’s governance mechanism.

With this move, MakerDAO became one of the real and successful examples of a DeFi project that managed to implement full decentralization, without relying on a centralized entity anymore.

Another interesting article for you: What is MakerDAO? Definition, How it Works, and Its Function in DeFi

Endgame Plan: Rune’s Long-Term Strategy for Maker’s Future

In 2022, Rune Christensen introduced a visionary document he called the Endgame Plan.

This plan is not just a technical or governance update, but rather a long-term blueprint designed to lead MakerDAO into a more robust, adaptive, and resilient future.

One of the key elements of the Endgame Plan is the creation of SubDAOs, modular units that operate semi-independently within