You know how I've always said that VCs won't use their massive voting power unless the plebs are doing something they don't want?
Well, it happened with @compoundfinance.
$MATIC collateral was about to be approved, then at the last minute, with 1 vote, @a16z was like "NOPE!"
Token distribution is critical in determining the distribution of power in blockchains.
Concentrated insider ownership may permanently impair projects’ ability to become credibly neutral public infrastructure.
Oligarchy is the system we’re suppose to be disrupting.
1/
@banteg@danrobinson@unitprotocol So help us understand the result here.This means that your original point is moot as the TWAT is more accurate than the TWAP, correct?
This does not apply to trustless apps & protocols.
Governments will never use trustless tech. They fear it because they cannot control it.
But apps & protocols that use governance via admin keys or voting rights are a government's wet dream.
They will mutate these ideas.
@_0x_larry @banteg@GArentoft@feiprotocol Note that the dollar is a centralized asset. Therefore it is impossible for a dollar stablecoin to be *fully* decentralized.