LOGO_CRYPTO_SIGHT

MakerDAO CTO Resigned Due to Internal Conflict Among Managing Members

By Warren Hayes | May 4, 2019
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MakerDAO CTO Resigned Due to Internal Conflict Among Managing Members

The former CTO of MakerDAO, Andy Milenius has recently resigned from his position at the company. The news was publicly announced via a letter written by Milenius, which further stated the internal conflicts while working on a project that led to his decision.

MakerDAO is the team in charge of designing the decentralized algorithmic Ethereum-based DAI stablecoin, along with the governance token Maker (MKR).

Specifically, in the letter, Milenius has outlined the details of his department, which has primarily to do with the long-running conflict between him and other managing members of the firm, regarding his idea of an equal workspace and democratization, true to a Decentralized Autonomous Organization (DAO) vs their idea of traditional corporate efficiency.

The letter called out MakerDAO CEO Rune Christensen, who at one point attempted to assert his dominance over the company, which consequently led to the uncooperation of the project’s main engineers, who are all deployed by an outsider company called DappHub to protect the developers’ independence.

The letter further revealed Milenius informing Christensen his intention of leaving, specifically, that should Matt Richards – MakerDAO president and COO of the time – remained at the firm, Milenius would leave. This action has ultimately resulted in the actual resignation of Richards.

Milenius has verified he indeed wrote the letter, and that all the details including him leaving the CTO position are true.

Richards has recently has said via Reddit regarding his perspective of the incident.

“It was not enough for Andy to reinvent the financial system. He also had to reinvent the way that work gets done (he didn’t know how it needed to be different, only that it did).” According to Andy, no amount of accountability was acceptable, the efficiency that came with explicit hierarchy did not outweigh how uncool or unfair it was.”

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