Andreessen Horowitz invested $15 million in development stablon MakerDAO
Cription venture Fund Andreessen Horowitz (a16z) has invested $15 million in the blockchain-project MakerDAO. Startup develops eponymous stablon MakerDAO (MKR).
The Fund acquired 6% of the total number of coins. The result of a16z will be able to participate in the management of MakerDAO and credit system of Dai, which should become "the first decentralized Autonomous organization stablon".
"The purchase gives a16z crypto share in the first decentralized functional scalcione and the only system built from the officially confirmed smart contracts on Ethereum (or any blockchain)," wrote the team MakerDAO in his blog.
The partnership itself will get a startup operating capital for the next phase of growth, three years of community support MakerDAO and, most importantly, full operational support from a team of Andreesen Horowitz, consisting of 80 people.
Recall stablon ("stable currency") is a cryptocurrency that is secured to one or other valuable asset, be it gold or us dollar. Features a virtual currency, stable exchange rate and low volatility. Example stablon is a digital coin Tether (USDT), pegged to the dollar.
Andreessen Horowitz was founded by Marc Andreessen and Ben Type in 2009. The headquarters of the company is located in Menlo Park (CA).
In June a16z created cription $300 million In early August, the co-founder of Andreessen Horowitz Marc Andreessen invested in cryptocurrency hedge Fund Capital Scalar. In the same month a16z has invested in blockchain startup Dfinity, developing decentralized cloud computing platform. The total investment amounted to $102 million in a deal participated Polychain Capital, Global Village, Multicoin Capital, Capital and other Amino. In late August, Andreessen Horowitz announced a change in the investment strategy.
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