milesjennings

It’s very straightforward to have a single asset governed and controlled by an entity whose sole goal is to maximize the value of that asset.

The problem is that asset is called a “share of stock”, not a “network token”.

The end of crypto's foundation era is here.

New policy (CLARITY Act), emerging structures (DUNA), and smarter tooling (BORGs) enable better systems — better incentives, accountability, and decentralization.

My new post on why it’s time to move on from foundation structures👇

The SEC’s 2021 token safe harbor proposal introduced control-based decentralization.

Today, we proposed steps to bolster it—enabling progressive decentralization while preventing get-rich-quick schemes.

Key Premise: Expand market access as risks of info asymmetries decline.