Ramblings on DeFi DAO Governance & Treasuries
IntroductionThe question I initially set out to answer was… How do you value the on-chain treasury/DAO of a DeFi project?And that lead to a second question… For a DeFi project, is an on-chain treasury managed by direct-democracy the best way to allocate funds?Over the past year it has become conventional wisdom that a large governance treasury translates into a valuable token. ‘Valueless governance tokens’ are far from valueless as tokens like $UNI boast deca-billion dollar market caps. At so...
Ramblings on DeFi DAO Governance & Treasuries
IntroductionThe question I initially set out to answer was… How do you value the on-chain treasury/DAO of a DeFi project?And that lead to a second question… For a DeFi project, is an on-chain treasury managed by direct-democracy the best way to allocate funds?Over the past year it has become conventional wisdom that a large governance treasury translates into a valuable token. ‘Valueless governance tokens’ are far from valueless as tokens like $UNI boast deca-billion dollar market caps. At so...
