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.
- 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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Chris Blec, DeFi researcher and founder of the Blec Report
- Unchained: Does a16z Control Uniswap?
- CoinDesk: Contentious Uniswap Vote Highlights the Opaqueness of Decentralized Governance