DeFi’s student government problem

It’s possible that crypto governance will dispense with the concept of elections and fixed terms in favor of dynamic proxy. In other words, I can assign my voting rights to a delegate who I believe represents my interests, but I’m free to reassign those rights to another delegate (or myself) at any time. Logistically, this is pretty easy in crypto ... See more

Token distribution mechanisms have adopted a lot of the structures from within the traditional financial world — including vesting schedules and vesting cliffs — which have resulted in some unintended consequences like adverse price action as tokens vest; and the inability of holders with large economic interests in a protocol to exercise governanc... See more

---------SIGNAL VS NOISE Social governance in DeFi applications is usually coordinated through online forums and Discord channels. Snapshot applications conduct "off-chain" voting before protocol changes are encoded on the blockchain. DeFi governance evolved organically but created a lot of noise because proposals, discussions, and votes spread acr... See more