SBF on Twitter: "@MonetSupply @AlamedaResearch @compoundfinance Oh yeah I think that governance tokens totally make sense to the extent the project does! Mostly my worries are about valuations getting out of line with the values of the underlying projects." / Twitter

Jul 19, 2020

great thread, with one caveat exchange tokens are (mostly) worthless because they don't give investors any rights and sit outside the capital stack 🥞 #DeFi token governance rights have clear value, as

@AlamedaResearch

demonstrated with

@compoundfinance

prop 16

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SBF

@SBF_FTX

Jul 19, 2020

1) This is my first in a series of posts on The State of DeFi. To start off: how _is_ DeFi doing? Are we seeing explosive growth, or is it just a mirage of transmining 2.0?

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Oh yeah I think that governance tokens totally make sense to the extent the project does! Mostly my worries are about valuations getting out of line with the values of the underlying projects.

10:12 PM · Jul 19, 2020Twitter Web App

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agreed when $YFI perp lmao

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