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Ferran 🐒 pfp
Ferran 🐒
@ferran
1/4 The Minotaur paradox 🐂 Did you notice how many Web3 projects try so hard to become perfect and user-friendly, but they endup overcomplicating everything? We usually point at the poor Web3 tech UX. But I feel that often what we build on top of this tech is even worse and could get the same criticism. I call this, the 🐂 Minotaur Paradox: Many enter the Web3 maze (for example, a DAO), but only those with better skills, knowledge, and time succeed. Just like Theseus. The Minotaur just eats the rest. Web3 tech makes us feel like Gods: we have an open sandbox to experiment with the human social layer, with people around the globe coordinating in a permisionless way. We can build anything! And this translates into a desire to create the perfect system. This desire to manage the chaos of human behavior and coordination inevitably leads to the creation of complex, multilayered systems, believing that we need that complexity to obtain a better architecture for our DAO, protocol or dApp. Continues ↓
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Ferran 🐒 pfp
Ferran 🐒
@ferran
2/4 The Minotaur paradox 🐂 For example: 1. Complex governance systems, that require reading long documents and following multiple steps (including staking tokens with financial value to obtain voter's rights). Result: In many DAOs, only dedicated members take the time to understand the rules, most of the members become inactive while free-riders chase the easy rewards, leaving the system open to manipulation. 2. Economic incentivization, that promises a magical alignment of interests among all participants. This wishful thinking leads founders and leaders to adopt a one-dimensional view of their users (that is obviously inaccurate). 3. Tokenomics systems that often lead to centralization, favoring both the wealthiest players (plutocracy) and those with superior skills (netocracy). This trend pushes project leaders to try to fix the issue by implementing even more complex governance structures and economic incentive schemes.
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Ferran 🐒 pfp
Ferran 🐒
@ferran
3/4 The Minotaur paradox 🐂 These systems are theoretically designed for perfection, aiming to optimize user behavior. However, human limits mean we can only absorb and analyze so much information and dedicate so much time to a project. On top of that, we assume that we're Homo economicus. But we often forget that we're also homo reciprocans: Our lives are multifaceted, not only financial-driven, and we engage in various contexts simultaneously: that means, we require simplification to be able to function effectively as humans. As a result of not understanding this, only a small fraction of individuals (those who spend many hours per week mastering the system) can truly participate on these complex Web3 systems. This paradox leads to a scenario where, even if Web3 systems are designed for a permisionless experience, power becomes increasingly centralized, barriers to entry continue to rise, and fewer than 1% of people actively participate.
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