added by Mo Shafieeha ยท updated 2y ago
Cryptociety | Sam McCarthy | Substack
- This is part 1 of a 2-part essay series on the current state of decentralized governance in crypto, followed by "Governance as a Source of Value."
from Cryptociety | Sam McCarthy | Substack by Sam McCarthy
Mo Shafieeha added 2y ago
- ---------PROTOCOL LEADERSHIP Kain Warwick, Synthetix's former "benevolent dictator," recently explained a problem arising from the decentralized governance of Synthetix. Warwick recalls stepping away from his de facto leadership position and leaving the Spartan Council, a democratically elected body that approved Synthetix protocol changes and was ... See more
from Cryptociety | Sam McCarthy | Substack by Sam McCarthy
Mo Shafieeha added 2y ago
- An Overview of the Current Challenges Facing Decentralized Governance in DeFi and Ideas for the Future
from Cryptociety | Sam McCarthy | Substack by Sam McCarthy
Mo Shafieeha added 2y ago
- 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 industr... See more
from Cryptociety | Sam McCarthy | Substack by Sam McCarthy
Mo Shafieeha added 2y ago
- ---------CONCLUSION DeFi's decentralized governance allows stakeholders to influence protocol development. Decentralized governance with DAOs can replace traditional firms' transaction costs, allowing crypto projects to welcome more diverse ideas and beliefs. To achieve these benefits, operational efficiency does not have to be sacrificed. Incorpor... See more
from Cryptociety | Sam McCarthy | Substack by Sam McCarthy
Mo Shafieeha added 2y ago
- ---------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
from Cryptociety | Sam McCarthy | Substack by Sam McCarthy
Mo Shafieeha added 2y ago