Austin Castellaw

-Power naturally falls into a small group of people so you have to be intentional about giving away power as there are common roles that people can fall into. 

So let’s dig into utility. We’re going to cover:

2. Who to distribute ownership to (making sure you are distributing ownership to those that create the most value)

Algorithmic — The value and supply of algorithmic stablecoins are controlled by code. If the demand for the coin starts to increase rapidly, the protocol automatically creates more coins to bring the price down. If the value drops too low, some of the supply is burned to bring the price back up.

Web3 emphasizes the freedom of the individual. In an ideal Web3 world, creator A is on a decentralized platform Z instead, which is run by smart contracts and gives creators more of their revenue. On top of that, platform Z probably has some tokens like $ZDAO that control governance - and this tokenization of governance disallows unilateral... See more

I think one of the most important things is for protocol teams or communities to first figure out what it is that they’re trying to accomplish and what their token specifically will be used for. For a lot of work token models like KEEP, NuCypher, or The Graph, the token is used to provide a service — the token is serving as a tax medallion. And so... See more

-Tracheo says at yearn finance people were really open to the unknown and wasn't concerned about creating a corporate structure. The competitive advantage is the collective wisdom of the group emerged when there was a permissionless structure.

Yet these two roles are in opposition to each other. A token needs to be exchangeable in order to be liquid. But the more liquid a token is, the less effective it can be as a pure signal of reputation.