Conversation

SBF
@SBF_FTX
Replying to
@SBF_FTX
2) There are pros and cons to each model. There's a spectrum. Generally, the closer to full token voting you get, the more decentralized and "pure" it is. The closer you get to dictatorship, the easier it is.
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SBF
@SBF_FTX
3) Also, though, left is only one kind of risk--another is e.g. YAM-tastrophies. and those are also more likely the closer you get to full token voting, because it's harder to patch bugs.
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SBF
@SBF_FTX
5) In the end, I think I mostly agree with
@VitalikButerin
(and I think (?)
@haydenzadams
though not sure) on this -- I lean towards: a) flexible at the very beginning to build b) transition to "anyone can build what they want but already built things are immutable"
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SBF
@SBF_FTX
6) the nice thing about (b) is that it means no one can make changes to steal funds, but also if there's an upgrade you can push it (to a new copy) and let people migrate (though if you do this too much it's a pain). And then, eventually, "specialized governance":
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SBF
@SBF_FTX
7) token-based governance over things like fees etc. which can't retroactively steal funds, and immutability over the fundamental behavior of the protocol (modulo starting a new version with new properties).
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Blake Gray
@BlakeGray43
Replying to
@SBF_FTX
and
@SBF_Alameda
Don't know that if it would help growing it or anything else, But if that's all I think Defi is better decentralized& non governance, Take a look at projects like
@riodefiofficial
, they don't need it, if your team is great, professional. Bring more updates than governance to rise