MakerDAO rakes in $240 million a year, but MKR is undervalued because it’s boring and complicated. Rune Christensen has a plan to change that.
During the last bull market, after a decade in the crypto space, MakerDAO founder Rune Christensen had grown disillusioned with the Ponzi schemes, degens and dog tokens.
I thought it was over for the space at the top of the bull market. I was really convinced that crypto had nothing to offer because all I saw was games, the tall, somewhat blandly good-looking Dane tells Magazine during an interview in Singapore.
In Maker, we had something real, but we were incapable of organizing ourselves. And what happened was a bunch of politics, basically. Basically, I decided to give it one last shot.
He had a good base to work from for his last roll of the dice. Backed by billions in U.S. Treasurys and on-chain assets, Maker is now raking in almost one-quarter of a billion dollars of revenue annually. Yet it has a price-to-earnings ratio of just 16, far below the Nasdaq average of 30.
