Andreessen Horowitz invests $15 million in stablecoin from MakerDAO

[Paha87]

The American venture capital Fund Andreessen Horowitz has invested $ 15 million in the blockchain startup MachineMAO (MKR).

MakerDAO is the company behind the creation of Dai stablecoin on the Ethereum blockchain and its accompanying decentralized credit system. The Dai token will be equal in price to the us dollar, but secured on the air (ETH). DAI users can generate stablecoins on their own using a smart contract in exchange for an excess amount of ETH, so if the user wants to access their collateral, he must return the debt to DAI.

According to the data, Andreessen Horowitz deposited funds through its a16z investment Fund and purchased 6 percent of the total number of MKR tokens. The purchase will allow a16z to manage the MKR and Dai Credit System as it reportedly becomes the "first decentralized Autonomous organization behind the creation of stablecoin."

MKR will also receive operational capital through additional funding stages, three years of community support and operational support from more than eighty members of the a16z team. Runa Christensen, CEO and co-founder of MakerDAO, commented:

Thanks to the investment and operational support of a16z, MakerDAO will be able to accelerate the evolution, innovation and implementation of Dai Credit System.

In August, the Andreessen Horowitz Foundation co-financed the DIFINITY startup, investing $ 100 million. In February, the Fund also participated in investments in this startup, contributing to the $ 61 million round. As a result, since the creation of DFINITY in 2015, the venture capital company has invested $ 200 million in this project, and now the startup wants to create a platform that will "host the next generation of software and services of the next generation in a public network."

In July, the cloud computing blockchain platform Oasis Labs announced that it had raised $ 45 million from major investors as part of its plan to help companies adopt the blockchain. Oasis investors included a16z along with other companies Binance, Pantera Capital and Accel.

Link to the source of information (Russian) - https://altstake.io/news/andreessen-horowitz-investiruet-15-mln-v-steyblkoinot-makerdao