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26 October 2020

Finance Redefined: Can DeFi and on-chain governance change human nature? Oct. 7-14

Finance Redefined: Can DeFi and on-chain governance change human nature? Oct. 7-14


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Or at least that’s what I previously used to describe it — if you visit the website now you basically only see mentions of DeFi and some very trippy images.

Like Uniswap and Compound, Dharma is backed by some traditional Silicon Valley venture capitalists and Coinbase.

They have legitimate interests in the matter given their tight product integrations with DeFi, and on Uniswap they’re trying to do right by their users who missed out on the airdrop.

If you take a stroll through the Compound or Uniswap governance dashboards, you’ll probably see the general issues I see with these types of “decentralized community governance” protocols.

It doesn’t help that making a proposal on Compound requires a fully formed technical implementation and 100,000 COMP (worth $10 million or so).

To be fair, the Compound and Uniswap forums could not be more different.

Corporate boards benefit the team and the already-rich who can devote capital to the venture, it’s just that with DeFi you get tokens instead of shares. .

It’s quite well established that futures — which make shorting very easy — dampen the overall volatility of the market.

But there’s another blame game that makes very little sense and suggests people are still crazy.

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cointelegraph.com
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