salutations my DAO loving friends!
this is DAO talk weekly. but you probably already knew that, if you didn’t: welcome to DAO talk weekly. this is your one stop shop for everything DAOs. we scour all the week’s DAO happenings, governance debates, & twitter hot takes and distill it until a short, sweet, & sassy weekly newsletter.
check out the full, uncensored audio version of DAO talk weekly below ⬇️
enough chit chat, let’s get to the DAO news.
Doug Colkitt (🐊,🐊)@0xdoug
1/ “Yes, it probably does need a token…” Recently it’s become fashionable in crypto circles to be critical of that app-layer governance tokens. Builders are encouraged to build public good and carefully think twice whether adding a token is really necessary This is psyops…
6:03 AM · Jan 20, 2023
19 Reposts · 138 Likes
if you’ve been with DAO talk studios since the beginning, you are no stranger to the governance token debate. we have aggressively called out the financialization of governance & will continue to do so but the complete dismissal of app-layer governance tokens is naive.
0xdoug puts it beautifully in this 10 tweet thread, “without transferable tokens governance power is locked and bounded to its original holders. That’s neither sustainable nor decentralized.”
governance token value accrual is not inherently evil, “governance without rent extraction compromises the economic security of the protocol. No value accrual means low barriers to ‘highly profitable traders’ attacking the protocol.”
going even further, builders should not balk when designing their governance token value accrual mechanism but instead invest significant resources into the process, “thinking hard about how a rent extracting governance token fits into the protocol design is the only way to build a long-term sustainably decentralized app layer.”
the system isn’t flawed. humans are flawed. financial exploitations of governance tokens aren’t inevitabilities as the narrative would have you believe but a consequence of poor design & a nascent industry. we’ll keep you posted on the projects building better systems!
U.S. Securities and Exchange Commission@SECGov
We charged Avraham Eisenberg with manipulating the MNGO token, a so-called governance token offered and sold as a security on the crypto platform Mango Markets. Eisenberg is in federal prison awaiting transport to NYC on parallel criminal charges.
sec.gov
SEC.gov | SEC Charges Avraham Eisenberg with Manipulating Mango Markets’ “Governance Token” to Steal $116 Million of Crypto Assets
8:23 PM · Jan 20, 2023
87 Reposts · 357 Likes
turns out you shouldn’t manipulate a protocol, steal millions of dollars, and then brag about it on twitter. who told this mans the U.S. government takes nicely to being taunted?
ChainLinkGod.eth@ChainLinkGod
If your dApp has a non-zero risk of becoming insolvent, then pure immutability is insanity This is why AMM DEXs are typically immutable, while money markets and derivative platforms are typically not Risk parameters need to be managed by someone as market conditions change
9:08 PM · Jan 24, 2023
7 Reposts · 73 Likes
governance = good (even when you don’t think it is)
markets change, humans change, users change, tech changes. change change change change. as CLG put’s it: “launching immutable code is fucking scary, you better be damn confident your code is pristine and assumptions valid.”
go deeper: the pioneer of ‘ungovernance’ Ameen Solemani (former DAO Talk guest) laments the pitfalls of Reflexer’s current ungoverned predicament
swagtimus.eth 📜@Swagtimus
2023 is going to be insane - staking withdrawals go live - proto-danksharding goes live, making rollups extremely cheap to use - rollups will mature and we will hopefully see the first decentralized rollups - personally very excited for attempts at improving governance
10:45 AM · Jan 24, 2023
22 Reposts · 202 Likes
big year for Ethereum. *send tweet*
Stani.lens (🌿,👻)@StaniKulechov
Aave gov to activate V3.0.1 on Ethereum main-net 👻
12:52 PM · Jan 22, 2023
79 Reposts · 352 Likes
Aave votes ON-CHAIN to activate V3.0.1 on main-net
gg team!!! looking forward to what the Aave gigabrains cook up next
DAOs @Denver@daosatdenver
Excited to announce the team behind DAOs at Denver! Here's our official partners: @boardroom_info @tallyxyz @DaoLens @Meta_Cartel @ConsenSys 🔥
5:27 PM · Jan 31, 2023
2 Reposts · 4 Likes
Eth Denver is right around the corner & the team that brings you DAO talk is throwing an intimate DAO event on February 28th from 2pm-6pm! Would love to see you there!
what a time to be a alive.
that’s it from DAO talk weekly #32. let us know if you liked/loved/hated/ this edition. all feedback is welcome and appreciated!
see ya next week!
your friendly neighborhood DAO talk bois
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