A couple weeks ago, a16z crypto announced their investment in MakerDAO, the creator of the Dai stablecoin1. For $15M, a16z purchased 6% of MKR tokens at a discount to the spot price (around 45%). Prior MKR holders were not involved in the decision to make this deal.
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Tokens are not equity
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A couple weeks ago, a16z crypto announced their investment in MakerDAO, the creator of the Dai stablecoin1. For $15M, a16z purchased 6% of MKR tokens at a discount to the spot price (around 45%). Prior MKR holders were not involved in the decision to make this deal.