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lex_node
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guys cryptoX is not instagram...please keep that shit off of here. . .
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unfortunately just having an entity that doesn't have equity holders and prohibits dividends does not magically create tokenholder 'alignment'--that's table stakes & every foundation (including the ones everybody hates) already does that the real bare minimum should be: -->governance docs are public -->in those docs, the entity purposes are narrowly and carefully drafted to tailor to the particular community/token/protocol at issue (this is almost never the case), with few weasel words or "any other purpose permitted by law" clauses -->there is some enforcement mechanism for actually aligned third parties (e.g., the DAO itself) to take legal action against the entity and its managers if they are violating the entity's rules Very often, almost always, at least one of these elements is missing & the potential for loopholes and end-runs causing 'misalignment' with tokenholders is massive. Just BORG it. 🖖😎
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MetaLeX spaces at noon NY time today...chatting about: a16z's article on Foundations vs. DUNAs and BORGs (https://a16zcrypto.com/posts/article/end-foundation-era-crypto/) the proposed apeDAO shutdown (https://forum.apecoin.com/t/sunsetting-the-dao-and-launching-apeco-a-new-operating-model-for-apecoin/28242) set a reminder!
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It's okay. According to aave I can never be liquidated, because I staked in Umbrella. I am nice and dry under my umbrella on this rainy day.
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this is all because I bought ETH last night, isn't it?
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The word "DeFi" has become so watered down that the Ethereum Foundation had to invent a new word, "DeFipunk," to mean what "DeFi" originally meant.
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