The decentralized crypto protocol community is growing. Unlocking the protocols isn't just for ideological reasons; they'll still work, and anyone can build on them. Like loans, loans, and trading, a decentralized governance system is needed for bitcoin. Crypto startups switching to community governance raises many questions about development,... See more

Tarun Chitra provided an excellent description of when governance is needed within DAOs in his recent piece for a16z,

Decentralized governance is at the heart of the ideological foundation of crypto: equal participation for all actors. The playbook of progressive decentralization is being followed by more decentralized finance (DeFi) projects. Users and tokenholders can now have more control over protocol parameters, treasury spending, and, in general, the... See more