Imo, either code is law or word is deed or both. If neither, everything devolves into political theater. Without property rights or contract law, there is no base upon which which on-chain decision making can be built.https://twitter.com/cobie/status/1537220039522545664 …
Code is law, until validators unilaterally decide to halt the network in a back room chat, freeze governance, and allow 0.003% of the supply to control the entire network, ignoring all other governance token holders calling them 'attackers' - decentralization!
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You think when
#lunc go to 0.005?Thanks. Twitter will use this to make your timeline better. UndoUndo
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@FatManTerra Thanks for updating we the#LUNC community so far. We will appreciate it if you can channel this your energy towards making sure that they burn more lunch and let all of us win together.Thanks. Twitter will use this to make your timeline better. UndoUndo
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Code is not law, but neither was Terra sufficiently decentralized.
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any future change for USTC to try to repeg?
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chance* typo
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Fact . Optimism had to thread carefully cause of this after the wintermute fiasco . They did well considering
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They voted to end voting!
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Is this the industry's first Daoctatorship?
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Code is law so, Whitepaper is constitution !!
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Fair point. Celsius took a different approach. Could Terra have been shut down some time on May 7th or 8th? Probably. The implications would be that it is not fully decentralized and autonomous. Would that have been harmful? The intentionally slow governance ops worked against it
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The point is that decentralization does not emerge naturally in most cases. Rather, we actively approach it through a "flattening" of centralized hierarchical structures. In the meantime, it is a blurry line. TFL weren't Terra executives, but were, but not really, but yes...
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