Welcome to (anon), a lurching, drunken lunge at fame and fortune by a conniving sad, disfigured ginger has-been.

When I started this publication, it was in the hope of exposing the dark and seedy underbelly of DAOs that the rainbow-and-unicorn-T-shirt-and-mama’s-wooly-cardigan-clad utopia-peddlers don’t want you to know about.

Indeed, my “investigations” have already slain titans of this foul industry by simply exposing their blatant misdeeds to my 3.35 avid subscribers when nobody else would.

Well, my 3.35 compatriots, I come to you, slingshot in hand once more, to expose yet another most despicable and pernicious act that has caught my unfailing (except on the weekends) gaze. Prepare thy supple bodies, dear readers!

The latest ugliness concerns Layer 2 DAO, a funding collective specializing in Layer 2 infrastructure. Lately the DAO received a grant from Optimism, the firm focused on scaling solutions like rollups. However, the chattering classes (i.e., me) were utterly scandalized when it came to light that the DAO had swiftly sold off those funds and bridged the proceeds to Arbitrum—Optimism’s main competitor!

https://twitter.com/OPGovWatch/status/1584167185332592641?s=20&t=jlouauZV0YnsSxZNmOqDqQ

The DAO claimed it had sold the grant after being hacked. It then proceeded to perform a series of intricate and death-defying verbal gymnastics to explain how a hacker stole the L2DAO tokens it had been given as part of the grant, adding that it then had then to negotiate a deal to buy back the stolen L2DAO tokens, paying for the stolen funds with more of the remaining grant funds it had received from Optimism…

If you’re keeping up with this, you ought to be writing this newsletter, tbh.

I don’t have sufficient evidence to prove that Layer 2 DAO wasn’t hacked and that it stole the grant funds for its own devious misdeeds, but I’m no lawyer—I’m merely an alcoholic. The only person I have to prove anything to is my AA sponsor, and he hasn’t been spotted for a while...

Neither does it help that a member of the Optimism council that determines how to divvy up that company’s grants was, as it recently came to light, secretly also a member of—wait for it—Layer 2 DAO. Hoo boy!

This individual, perhaps a future SBF in the making, goes by the name of “nono” on Discord, but in the slums of Twitter he is known simply as “PraiseVitalik”. Yes yes to that!

https://twitter.com/OPGovWatch/status/1585027283794157569?s=20&t=nj8xNnca_EiGXUdLRlVIKA

Apparently, nono both helped draft Layer 2 DAO’s proposal and championed it to help get it passed through governance.

While performing my standard due diligence (scrolling through Twitter), I discovered that nono has also been known to be extremely lax when judging grant proposals that were sometimes ridiculous (like one that apparently addressed legal status for clouds? eh, lads?), while also being extremely hard on proposals from legitimate teams with real goals.

https://twitter.com/OPGovWatch/status/1585027340337225728?s=20&t=jlouauZV0YnsSxZNmOqDqQ

This nono character is displaying a wanton abuse of his role(s). He’s drunk on governance tokens, throwing around his bag of tokenized influence to corrupt—nay, *desecrate!—*the sacred governance processes that ought to deliver us from perdition unto Crypto Utopia evermore. Amen.

This section was largely a summary of this great thread by @OPGovWatch. 

In a twist absolutely no one could have seen coming, people (the same people we can’t get to vote IRL), are too lazy to vote on governance issues. It might not be the actual voting they’re too lazy to do, that’s just a few clicks–it’s the research, the thinking, the reading, the words, ah fuck I’m getting nauseous just thinking about it. Nurse! NURSE!! Where’s my bedpan?

Governance is work, and it turns out a lot of people didn’t realize they were signing up for “work” when they struck out from the “legacy” system and determined to try and become sovereign individuals and “bE tHeIr OwN bAnKs”.

We talked about one approach to this same problem in a recent (anon) featuring a16z’s suggestion that we simply bribe voters to partake in governance.

Well, Senate Labs proposes an alternative: what if we elect officials whose sole responsibility is to stay on top of governance proposals and vote on the lazy collective’s behalf? I wonder if there’s some kind of, uh, representative indirect democratic system knocking about that could be used as inspiration. Nope, can’t think of any.

https://twitter.com/koheingt/status/1597998143505076226?s=20&t=xL5nav0ootIJDPVWHs3_9A

I also wonder what Satoshi would think if he knew his little anarchist idea would eventually lead to the advent of a new class of politicians.

https://twitter.com/RezaJafery/status/1598346665576239104?s=20&t=xL5nav0ootIJDPVWHs3_9A

Thanks for reading (anon), the most fanatical newsletter since Luther’s 99 theses.

Welcome to (anon), a lurching, drunken lunge at fame and fortune by a conniving sad, disfigured ginger has-been.

When I started this publication, it was in the hope of exposing the dark and seedy underbelly of DAOs that the rainbow-and-unicorn-T-shirt-and-mama’s-wooly-cardigan-clad utopia-peddlers don’t want you to know about.

Indeed, my “investigations” have already slain titans of this foul industry by simply exposing their blatant misdeeds to my 3.35 avid subscribers when nobody else would.

Well, my 3.35 compatriots, I come to you, slingshot in hand once more, to expose yet another most despicable and pernicious act that has caught my unfailing (except on the weekends) gaze. Prepare thy supple bodies, dear readers!

The latest ugliness concerns Layer 2 DAO, a funding collective specializing in Layer 2 infrastructure. Lately the DAO received a grant from Optimism, the firm focused on scaling solutions like rollups. However, the chattering classes (i.e., me) were utterly scandalized when it came to light that the DAO had swiftly sold off those funds and bridged the proceeds to Arbitrum—Optimism’s main competitor!

https://twitter.com/OPGovWatch/status/1584167185332592641?s=20&t=jlouauZV0YnsSxZNmOqDqQ

The DAO claimed it had sold the grant after being hacked. It then proceeded to perform a series of intricate and death-defying verbal gymnastics to explain how a hacker stole the L2DAO tokens it had been given as part of the grant, adding that it then had then to negotiate a deal to buy back the stolen L2DAO tokens, paying for the stolen funds with more of the remaining grant funds it had received from Optimism…

If you’re keeping up with this, you ought to be writing this newsletter, tbh.

I don’t have sufficient evidence to prove that Layer 2 DAO wasn’t hacked and that it stole the grant funds for its own devious misdeeds, but I’m no lawyer—I’m merely an alcoholic. The only person I have to prove anything to is my AA sponsor, and he hasn’t been spotted for a while...

Neither does it help that a member of the Optimism council that determines how to divvy up that company’s grants was, as it recently came to light, secretly also a member of—wait for it—Layer 2 DAO. Hoo boy!

This individual, perhaps a future SBF in the making, goes by the name of “nono” on Discord, but in the slums of Twitter he is known simply as “PraiseVitalik”. Yes yes to that!

https://twitter.com/OPGovWatch/status/1585027283794157569?s=20&t=nj8xNnca_EiGXUdLRlVIKA

Apparently, nono both helped draft Layer 2 DAO’s proposal and championed it to help get it passed through governance.

While performing my standard due diligence (scrolling through Twitter), I discovered that nono has also been known to be extremely lax when judging grant proposals that were sometimes ridiculous (like one that apparently addressed legal status for clouds? eh, lads?), while also being extremely hard on proposals from legitimate teams with real goals.

https://twitter.com/OPGovWatch/status/1585027340337225728?s=20&t=jlouauZV0YnsSxZNmOqDqQ

This nono character is displaying a wanton abuse of his role(s). He’s drunk on governance tokens, throwing around his bag of tokenized influence to corrupt—nay, *desecrate!—*the sacred governance processes that ought to deliver us from perdition unto Crypto Utopia evermore. Amen.

This section was largely a summary of this great thread by @OPGovWatch. 

In a twist absolutely no one could have seen coming, people (the same people we can’t get to vote IRL), are too lazy to vote on governance issues. It might not be the actual voting they’re too lazy to do, that’s just a few clicks–it’s the research, the thinking, the reading, the words, ah fuck I’m getting nauseous just thinking about it. Nurse! NURSE!! Where’s my bedpan?

Governance is work, and it turns out a lot of people didn’t realize they were signing up for “work” when they struck out from the “legacy” system and determined to try and become sovereign individuals and “bE tHeIr OwN bAnKs”.

We talked about one approach to this same problem in a recent (anon) featuring a16z’s suggestion that we simply bribe voters to partake in governance.

Well, Senate Labs proposes an alternative: what if we elect officials whose sole responsibility is to stay on top of governance proposals and vote on the lazy collective’s behalf? I wonder if there’s some kind of, uh, representative indirect democratic system knocking about that could be used as inspiration. Nope, can’t think of any.

https://twitter.com/koheingt/status/1597998143505076226?s=20&t=xL5nav0ootIJDPVWHs3_9A

I also wonder what Satoshi would think if he knew his little anarchist idea would eventually lead to the advent of a new class of politicians.

https://twitter.com/RezaJafery/status/1598346665576239104?s=20&t=xL5nav0ootIJDPVWHs3_9A

Thanks for reading (anon), the most fanatical newsletter since Luther’s 99 theses.