MakerDAO passes new ‘constitution’ to formalize governance process By Cointelegraph

MakerDAO, the decentralized autonomous organization that governs the Dai (DAI) stablecoin, has passed a new proposed “constitution” intended to formalize governance processes and help prevent hostile actors from taking over the protocol, according to the official forum page for the proposal.

According to the proposal’s text, a constitution is needed because the Maker Protocol “relies on governance decisions by humans and institutions holding MKR tokens,” which can “expose weaknesses and vulnerabilities that can result in the failure of the Maker Protocol or the loss of user funds.”