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Sept. 25, 2018

As was stated in MakerDAO report, about 6% of the total MKR token supply was purchased by investment fund a16z crypto for $15 million. The purchase provided the fund with a stake in the first functional decentralized stablecoin and the right to participate in the governance of MakerDAO and the Dai Credit System.

The strategic investment in MakerDAO is one of the first deal completed by recently established a16z crypto, a crypto fund from Andreessen Horowitz. The deal was driven by General Partner Katie Haun, an accomplished former federal prosecutor who led the first government task force on cryptocurrencies.

MakerDAO is the organization behind the Dai stablecoin and its accompanying decentralized credit system. According to the official website, Maker includes the potential of the blockchain, comprised of a stablecoin, collateral loans, and decentralized governance.

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