<p><span style="font-weight: 400;">Nikolai Mushegian, former dai stablecoin developer and co-founder of the Balancer exchange, has died at the age of 29 in Puerto Rico, local police </span><a href="https://www.elnuevodia.com/noticias/seguridad/notas/muere-un-hombre-de-29-anos-arrastrado-por-las-corrientes-en-playa-de-condado/"><span style="font-weight: 400;">told</span></a><span style="font-weight: 400;"> El Nuevo Día newspaper.</span></p> <p><span style="font-weight: 400;">Mushegian had a swimming accident at the country's Condado beach caused by strong ocean currents at the beach, the report said.</span></p> <p><span style="font-weight: 400;">Many in the crypto industry offered their condolences on Mushegian’s passing. “Sad to hear about Nikolai Mushegian. He had a big impact on crypto with his contributions. RIP,”</span> <a href="https://twitter.com/ASvanevik/status/1587387870964510720"><span style="font-weight: 400;">said</span></a><span style="font-weight: 400;"> Nansen Founder Alex Svanevik on Twitter.</span></p> <p><span style="font-weight: 400;">Mushegian left behind a wide array of blockchain-related works. He</span> <a href="https://balancer.fi/whitepaper.pdf"><span style="font-weight: 400;">co-founded</span></a><span style="font-weight: 400;"> Balancer, one of the largest decentralized exchanges on Ethereum. </span></p> <p><span style="font-weight: 400;">He also served an important role in the creation of the dai stablecoin as a technical partner for MakerDAO. Beyond this, he made significant contributions to BitShares, and the rai stablecoin, according to his own</span> <a href="https://nikolai.fyi/"><span style="font-weight: 400;">website</span></a><span style="font-weight: 400;">.</span></p><br /><span class="copyright"><p>© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.</p> </span>