Content
@
0 reply
0 recast
0 reaction
androidsixteen
@androidsixteen.eth
What all of these futuristic token org ideas lack is any semblance of good corporate governance It’s not enough to automate the token flows in the system, you need governance — and that is a messy and very human process I’m getting flashbacks of DeFi summer, we’ll probably rediscover governance forums 🙃
8 replies
13 recasts
77 reactions
Ben - [C/x]
@benersing
Please no 🤣 Humans are almost always the rate limiting factor in any system
1 reply
1 recast
7 reactions
androidsixteen
@androidsixteen.eth
Feature not a bug A good board pumps the brakes on schemes that fuck over the shareholders
1 reply
0 recast
4 reactions
Ben - [C/x]
@benersing
In a traditional corporate governance structure with clearly delineated shareholder classes and Director responsibility, yes. In typical DAO governance (which I inferred from "DeFi" and "governance forums"), not so much...the brake pumping just leads to inaction + no protections
2 replies
0 recast
1 reaction
maurelian
@maurelian.eth
I think you're agreeing with the OP: _good governance_ is necessary.
0 reply
0 recast
1 reaction
Juli 🎩↑
@juli
minimal gov should be the goal. Business: good CEO + core team take decisions. board will review for strong internal fuckups but most importantly shareholders buy/sell Crypto protocol: none Crypto tokens: core team + individuals + other teams, sub-initiatives that earn/get/buy the token, each deliver their own thing in order to get value from it. if there are multiple contributing stakeholders (good!), it doesn’t hurt when they talk, have some shared vision that they align with & projects they cooperate on. Key security updates should require enough token holder approvals. (No board necessary - direct insight for token holders) Bearish on large treasuries to be managed by a collective. That design incentivizes protocol politicians, more employees, accountability requirements - all overhead on stakeholders to move fast, focus on product, add value to the token & win. Thesis: a lot of DeFi circumvented security laws just to get nerdsniped into absurd, slow governance processes as early-stage startups.
1 reply
1 recast
1 reaction
