Nikolai Mushegian Dies, Here's The Fate Of The MakerDAO

One of the founders of MakerDAO, Nikola Mushegian is reported to have died on Costa Rica beach. (Photo; Doc. Yahoo Finance)

JAKARTA Six years ago, Nikolai Mushegian, the co-founder of MakerDAO, received praise from the public for successfully saving his platform from the threat of crime. Now, the figure is reported to have died while drowning on the San Juan beach, Puerto Rico.

Mushegian, the 29-year-old, is a well-known developer among the crypto community for his support for various crypto projects and technological development. Some people call it architek DAI.

News of the Founder of MakerDAO's Death

According to a report from local news outlet El Nuevo who confirmed Mushegian's death on Friday, October 28. The media revealed that he had been "hit by the ocean" on Conando Beach in San Juan.

Strong underwater currents known as a dangerous place to swim, alone killed 8 people in 2021. Police were notified of Mushegian's death on Friday morning, according to authorities. It was stated that he was a resident of San Juan and when his body was found he had no serious signs.

"Nikolai is a developer who saved MakerDAO from hacking in the same way that TheDAO was hacked through a strong audit six years ago," wrote one of the crypto communities and co-founder of Tether (USDT), Craig Sellars, in a Twitter post on October 29, 2022.

"Nikolai was the only person in Ethereum's early days and a smart contract capable of predicting the possibility of smart contract hacking and finding a security-oriented approach to smart contract designs we know today," said MakerDAO founder and CEO Rune Christensen.

Still Young and Smart

It didn't stop there, a number of other crypto founders such as Cardano founder Charles Hoskinson also praised Mushegian's role during his lifetime by stating that he was a very young and very intelligent person. Hoskinson also added that the figure had a "deep understanding of technology."

Launching CryptoPotato, Mushegian was very active on social media, but drew attention the day before his death after posting a tweet about being targeted in connection with Puerto Rico's ring of sex trafficking, and that they would "tortize him to death." Less than two months earlier, he claimed he might be made "suicide by the CIA" in the future.

As one of Tether's creators, Craig Sellers, noted on Twitter, Mushegian's death came less than a week after MakerDAO approved a $1.6 billion US custodial partnership with the largest crypto exchange in the US, Coinbase.

Maker also recently converted its $500 million reserve assets into US Treasury and Bonds, imitating other stablecoin top actions in its transition to a safer traditional debt form.

Rune Christensen recently approved a proposal Endgame that made the members of the MakerDAO organization split into two camps. The proposal was proposed by Christensen himself. Endgame's plan is a massive restructuring plan for the MakerDAO that seeks to ensure decentralization and maximum growth over the next ten years.

However, the proposal was considered negative by the community, one of which was a researcher at the Paradigm who used the pseudonym Hasu. According to him, Endgame proposal is a very bad and very sad proposal for Maker," he said on Tuesday, October 1 yesterday.