brypto

Bro had me until he started talking about nations using onchain governance

I would not wish the scourge of token voting on my worst enemy

https://x.com/jerallaire/status/1803432989113593890

Outside of a non-benevolent despot, plutocratic token voting is literally the worst form of "governance". So, it's the other way round, DAOs should study and adopt better forms of governance from the real world w/ a millennia of innovation. See: Optimism for some inspiration, but IMO we can go a lot further than that.

Why is it wrong for economic systems to be plutocratic?

Why would you want a democratic group making economic decisions? 

In principle a plutocratic system makes a lot of sense for something like a defi protocol, the issue arises when the voting token is an illiquid and un-investable asset that can be subject to easy capture