# Overview of Stakeholders in MakerDAO

## Diverse Stakeholders

In the MakerDAO community, diverse stakeholders participate in collective governance by **introducing, deliberating, and voting on proposals**. Some notable stakeholders are:

* Traditional VCs (e.g., a16z)
* Crypto VCs
* Whales (e.g., Rune Christensen, co-founder of MakerDAO)
* Recognized (Constitutional) Delegates&#x20;
* Shadow Delegates
* External Parties
* Core Units

## Role-Playing Stakeholders

The resources below to help you get a quick understanding of the various stakeholders that you will be role-playing. Once your group has been assigned a role, feel free to use additional resources (e.g., community forum posts, tweets, and blog posts) to further enhance your understanding of the assigned role.&#x20;

<table data-card-size="large" data-view="cards"><thead><tr><th>Stakeholder Group</th><th>Representative Individuals and Entities</th><th>Quick Description</th><th>Useful Links</th></tr></thead><tbody><tr><td><strong>Traditional VCs</strong></td><td><a href="https://a16zcrypto.com/">a16z crypto</a></td><td>a16z crypto is a venture capital fund that invests in crypto and web3 startups. It is part of a16z (Andreessen Horowitz), a private American venture capital firm founded in 2009 by Marc Andreessen and Ben Horowitz. </td><td><ul><li><a href="https://medium.com/@MakerDAO/a16z-crypto-purchases-6-of-mkr-backing-stablecoin-vanguard-makerdao-ff410a692393">a16z crypto purchases 6% of MKR, backing Stablecoin Vanguard MakerDAO</a></li><li><a href="https://vote.makerdao.com/address/0x05e793ce0c6027323ac150f6d45c2344d28b6019#account-details">a16z account details</a> (MKR delegated, Voting History) </li></ul></td></tr><tr><td><strong>Crypto VCs</strong></td><td><a href="https://parafi.com/">ParaFi Capital</a></td><td>"ParaFi is a leading crypto-native investment and technology firm founded in 2018, focused on token, venture, and quantitative strategies." Wallet address: 0x4655b7ad0B5f5BaCB9cF960bbFFcEB3f0e51F363 (<a href="https://etherscan.io/address/0x4655b7ad0b5f5bacb9cf960bbffceb3f0e51f363">via Etherscan</a>)</td><td><ul><li><a href="https://vote.makerdao.com/address/0x4655b7ad0b5f5bacb9cf960bbffceb3f0e51f363#account-details">ParaFi account details</a>(MKR delegated, Voting History)</li></ul></td></tr><tr><td><strong>Whales</strong></td><td><a href="https://twitter.com/runekek?lang=en">Rune Christensen </a></td><td>Co-founder of MakerDAO. Wallet address is 0xf65475e74C1Ed6d004d5240b06E3088724dFDA5d (<a href="https://etherscan.io/address/0xf65475e74c1ed6d004d5240b06e3088724dfda5d#analytics">via Etherscan</a>)</td><td><ul><li><a href="https://vote.makerdao.com/address/0xf65475e74c1ed6d004d5240b06e3088724dfda5d#account-details">MKR tokens delegated by Rune</a></li></ul></td></tr><tr><td><strong>Recognized (Constitutional) Delegates</strong></td><td><ul><li><a href="https://vote.makerdao.com/address/0x0f4be9f208c552a6b04d9a1222f385785f95beaa#delegate-credentials">Flip Flop Flap Delegate LLC</a></li><li><a href="https://vote.makerdao.com/address/0x869147940842bb1aa4c40e60c5e583f4911f2e02#delegate-credentials">GFX Labs</a></li><li><a href="https://vote.makerdao.com/address/0xb4b82978fce6d26a22dea7e653bb9ce8e14f8056#delegate-credentials">coldiron.eth</a></li><li><a href="https://vote.makerdao.com/address/0xce25a4b126e2d661b8bfb01086695f378c1bcf0a#delegate-credentials">mhonkasalo &#x26; teemulau</a></li><li><a href="https://vote.makerdao.com/address/0x92e1ca8b69a44bb17afa92838da68fc41f12250a#delegate-credentials">Feedback Loops LLC</a></li></ul></td><td><p><a data-footnote-ref href="#user-content-fn-1">Recognized Delegates</a></p><ol><li>"must meet requirements for consistent participation in votes, and communication with the community"</li><li>"are compensated in DAI and are featured more prominently on voting frontends"</li><li>"act as a bridge between vote outcomes and other actors by actively and transparently communicating with the MakerDAO community." </li></ol></td><td><ul><li><a href="https://forum.makerdao.com/t/delegation-resources/13249">Delegation Resources</a></li><li><a href="https://forum.makerdao.com/t/delegates-main-index-dmi/10035">Delegate’s Main Index</a></li><li><a href="https://governance-metrics-dashboard.vercel.app/">Governance Stats</a></li><li><p><a href="https://governance-metrics-dashboard.vercel.app/delegates">Delegates Metrics</a> (participation, comments, etc.)</p><ul><li>Example: <a href="https://governance-metrics-dashboard.vercel.app/delegates/0x869147940842bb1aa4c40e60c5e583f4911f2e02">comments by GFX Labs</a></li></ul></li></ul><p></p></td></tr><tr><td><strong>Shadow Delegates</strong></td><td><ul><li><a href="https://vote.makerdao.com/address/0x088e83e4a9da7439aae0c56f3a9654865fb9698f#metrics">0x088E83E4A9dA7439AaE0c56f3A9654865fB9698F</a> (with Rune as the sole delegator)</li><li><a href="https://vote.makerdao.com/address/0xac3ee65f66bedb594a1edd874bfd88ff49fd13d2#metrics">0xAc3Ee65f66BEdB594A1EDD874bFd88ff49fd13d2</a> (with Rune as the sole delegator)</li></ul></td><td>"<a data-footnote-ref href="#user-content-fn-2">Shadow Delegates are permissionless, with no requirements or responsibilities beyond those they have agreed on directly with holders who delegate to them.</a>"</td><td><ul><li><a href="https://vote.makerdao.com/address/0x088e83e4a9da7439aae0c56f3a9654865fb9698f#voting-history">Voting History of Shadow Delegate 0x088E83E4A9dA7439AaE0c56f3A9654865fB9698F</a></li><li><a href="https://vote.makerdao.com/address/0xac3ee65f66bedb594a1edd874bfd88ff49fd13d2#voting-history\">Voting History of Shadow Delegate 0xAc3Ee65f66BEdB594A1EDD874bFd88ff49fd13d2</a></li></ul></td></tr></tbody></table>

{% hint style="info" %}
Interested in other stakeholder roles (e.g., Core Units, external parties)? Happy to chat during breaks and after class.
{% endhint %}

[![Creative Commons Licence](https://i.creativecommons.org/l/by-nc/4.0/88x31.png)](http://creativecommons.org/licenses/by-nc/4.0/)

© 2023 Xule Lin & Ying-Ying Hsieh. This work is licensed under a [Creative Commons Attribution-NonCommercial 4.0 International License](http://creativecommons.org/licenses/by-nc/4.0/).

[^1]: <https://manual.makerdao.com/delegation/overview/what-is-delegation#recognized-delegates>

[^2]: <https://manual.makerdao.com/delegation/overview/what-is-delegation#shadow-delegates>


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