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JJ

@molochslayer

Joined June 2021
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JJ @molochslayer
"everyone knew that from the start it was imperfect, and with enough will and work, it can still work today
The problems Katherine posted about aren't untrue - but I don't buy the solutions"

would love to see Labs make proposals to radically transform the dao without nuking it
ivangbi 🦞 Verified account @ivangbi_ Jun 26
Re: the current ENS debate and DAOs. This is a general take, not directed at one project specifically.

When you check DAOs and confirm that "expecting airdrops to let every small holder engage in governance and make decisions together was a weak idea"... Well, everyone knew that from the start. It was imperfect but we all were excited and thought it was necessary in many cases. Moreover, the governance token model allowed for raises and narratives, and with enough will and work, it can still work today. Even with a primitive token-weighted voting model it can work and be "good". And the transparency it brings is a great thing, imho. And at end of the day, it allows us to have some financial models for tokens beyond just pure speculation and fugazi lemon markets like memecoins.

The model does come with a few drawbacks, we've all lived through those. Like having to debate with, maybe a $100 token holder, on strategy, product decisions; and justifying your work to get a grant every year. It's a lot of noise and micromanagement, which don't bring much to teams anymore (since the token premium upside has collapsed in the bear market). Therefore, teams stop playing decentralization theatre completely.

However, the theatre could have been played with good or with bad intentions. If your intentions were good, the fix to the problem shouldn't be "ok screw the token and the value accrued" - that's a 180 terrible move 🛑

You kill the token and the transparency that comes with it because "why would I do it if I can keep it all behind closed doors and avoid any headache". You go back to the equity model and kill any idea of a community. Any fugazi justification after that is just another theatre.

"But ser, airdroppers are not community". Nah, for every 10 crying bot accounts you have 1 genuine member willing to make intros for you, help, and grow. That's the entire point of incentives and crypto to me. I think many are burned out and are taking an easy way out (kinda slowrugging in the process, for lack of a better word) - instead of believing and experimenting further. The next wave of bull market will belong to those, who as it has always been, weren't lazy to experiment and change things around.

You can fix the headache of reporting every single move to the DAO with a better structure, better accountability, and so on. It's literally on your resume once you've stepped into a token financial world and decided to get rich off tokens one day. Because making up stories like that wasn't part of your goal - is bs.
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