fredwilson
@fredwilson.eth
Hi Casters. I've been thinking a lot about protocol monetization and what it opens up. I wrote some thoughts on that today https://avc.xyz/why-monetize-protocols
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Rolf Hoefer
@rolfhoefer
Interesting article! 1/ The argument that monetization via a protocol token is a mechanism to prevent bad actors to capture governance is how I typically think of tokens. What's the issue with standards bodies "centralizing" governance of web2 protocols that don't have tokens though? Some examples here would be great.
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Rolf Hoefer
@rolfhoefer
2/ You point to Ethereum as a monetized protocol where a large say is difficult given high economic costs to acquiring lots of ETH. Is Ethereum and ETH a great example though? First, most protocols have tokens that start centralized, unlike Ethereum. Second, what important "say" does one get lots of ETH on Ethereum?
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Rolf Hoefer
@rolfhoefer
3/ I wonder if monetizing protocols also has to do with creating "reliability" in the continued delivery of products or services by collectives. An example is to introduce an economic cost to spamming: it's cheap to spam via SMTP but expensive to spam via onchain transactions.
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