Chris Blec, DeFi researcher and founder of the Blec Report, explains why he believes the involvement of Andreessen Horowitz (a16z) in a contentious Uniswap governance proposal flies in the face of crypto’s core value: decentralization. He argues that the venture capital firm’s ability to potentially sway the vote in favor of a portfolio company undermines claims that DeFi is “people-powered.” The vote, which is not yet concluded, is the latest venue for people to debate the merits of DeFi governance and whether one token really should equal one vote.
Show highlights:
why a16z decided to vote against a key section of the Uniswap governance proposal
the problem Chris sees with the current design of DAOs
whether there is a parallel to be drawn between TradFi and DAO governance
why Chris says people are mistaken when they think about the goals of crypto VC
whether the fact that some VCs control so much voting power goes against the ethos of decentralization
how Chris thinks VCs are funding lobbyist groups to push for their interests, not those of crypto as a whole
why Chris believes the "one token, one vote" system doesn't work
some alternatives that could be pursued to help the issue of whale token voting
whether regulators will come after DAOs and especially the ones that are using current governance mechanisms
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Crypto.com
Guest
Chris Blec, DeFi researcher and founder of the Blec Report
Twitter
Tweet about token voting
Tweet about engaging with a16z
Links
Unchained: Does a16z Control Uniswap?
CoinDesk: Contentious Uniswap Vote Highlights the Opaqueness of Decentralized Governance
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