UNIUSD
UNI / United States dollar
crypto

One challenge I see with DAOs is the thesis put forth by a16z for why governance tokens have value, which according to my reading has to do with "stake." Across several articles, with the Glorious Revolution as a theme, stake was contrasted against the commons - and the tragedy thereof.
A16z argued: without any stake in the matter, why should you make good decisions about the commons? And, indeed, the classic tragedy of the commons is a matter of over-grazing the community land despite having an equivent claim to it as anyone else.
So by my reading, they articulated a reason why their UNI tokens ought to have non-zero value - but in doing so, they just reified the old framework in a new, less flexible context. But a context that was familiar and investible by venture capital.
I think we need a better thesis for bridging values between current resource holders to smart resource allocators. The current paradigm assumes both groups are one and the same - but in practice, they are not. The concept of "stake" has to do with holding, not necessarily with smart allocation.
I'll stop there - but I think an investigation of the GINI coefficient is a good way to approach holders and allocators at opposite ends of the scale.

One challenge I see with DAOs is the thesis put forth by a16z for why governance tokens have value, which according to my reading has to do with "stake." Across several articles, with the Glorious Revolution as a theme, stake was contrasted against the commons - and the tragedy thereof.
A16z argued: without any stake in the matter, why should you make good decisions about the commons? And, indeed, the classic tragedy of the commons is a matter of over-grazing the community land despite having an equivent claim to it as anyone else.
So by my reading, they articulated a reason why their UNI tokens ought to have non-zero value - but in doing so, they just reified the old framework in a new, less flexible context. But a context that was familiar and investible by venture capital.
I think we need a better thesis for bridging values between current resource holders to smart resource allocators. The current paradigm assumes both groups are one and the same - but in practice, they are not. The concept of "stake" has to do with holding, not necessarily with smart allocation.
I'll stop there - but I think an investigation of the GINI coefficient is a good way to approach holders and allocators at opposite ends of the scale.