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Hugh Karp
@hughkarp
Protocol controlled value will make a comeback.
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Capitulation
@capitulation
That would bring a whole new wave of curve/balancer wars and pump governance tokens. Would require pretty robust onchain governance to not turn into whale/insider slush fund though. Anything interesting you have seen recently in particular?
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Hugh Karp
@hughkarp
Haven't seen anything in particular, I just believe certain objectives really need PCV to succeed. Can't rely on shorter term mercenary capital for everything.
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Capitulation
@capitulation
What objectives do you have in mind? In general I agree, my point is that PCV is more susceptible to governance capture and can become just leverage for mercenary capital making the needed incentive and governance design more complex
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Hugh Karp
@hughkarp
Insurance is a key one, both insurance protocols and where backstop funds are required. More generally I think it can open up the design space for increased capital efficiency by having backstop funds more likely to be used. Agree on gov capture concerns, it has to be set up right.
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