Home collateral The Chopping Block: How to Handle MakerDAO, with Hasu and Rune – Ep.383

The Chopping Block: How to Handle MakerDAO, with Hasu and Rune – Ep.383


Welcome to the Cutting Block! Crypto insiders Haseeb Qureshi, Tom Schmidt and Robert Leshner have taken a look at the latest news from the digital asset industry. In this episode, Governance Foodie Hasu and Rune Christensen, Head of Mischief at MKR, discuss how to run a DAO, their respective visions for MakerDAO, and more.

Show topics:

  • What is MakerDAO, how DAI works and if it is the “central bank” of DeFi
  • How MakerDAO’s Views of Hasu and Rune Differ
  • If Maker should only hold highly liquid collateral assets
  • Hasu’s mental model of DAI in Eurodollars
  • The role of real-world assets in supporting DAI
  • What is the purpose of a DAO and how it differs from a legal entity
  • If people behave in their purest form within a DAO
  • How DAI can create positive externalities and create a better world
  • How Crypto Holders Are Not Just In It For The Money But Also For The Philosophy
  • What is the “decentralized stablecoin trilemma”
  • If there is a need for dollar-denominated collateral for DAI to work
  • What is “clean money” according to Rune
  • Why Rune thinks having one council isn’t viable due to political risks and if the solution is to have multiple councils
  • How to Master the Principal-Agent Problem, According to Hasu
  • Why Hasu Thinks Council Members Wouldn’t Pursue Their Own Interests and Go Against MKR Token Holders
  • If advice would be corruptible and the dangers that entails
  • What types of interests should be represented on the board
  • If Maker can create more synthetic assets
  • Iron law bureaucracy and its relationship to governance
  • How to design the DAO to be piloted in alignment with token holders
  • If ossification is a feature to pursue and where innovation occurs
  • How complexity is very expensive for an organization


  • Haseeb Qureshi, Managing Partner at Dragonfly Capital
  • Tom Schmidt, General Partner of Dragonfly Capital
  • Robert Leshner, Founder of Compound


Rune Christian


Real world assets:

The stablecoin trilemma: https://fluid.ch/stablecoin-trilemma/#:~:text=A%20deeper%20dive%20into%20the,decide%20on%20the%20stablecoin%20supply.