Why Crypto Fundraising Could Be in for a Painful Winter
The Breakdown
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The Costs of Starting a Dow
Dows add friction to using resources by requiring members to pass proposals. By default, most Dows of today are at risk of being what Vitalik Buterin would call a vitocracy. In some cases, the fact that democratic process adds friction is a feature, not a bug. For financial protocols that steward millions in user deposits, it should be difficult to change settings that could impact tens of thousands of users.
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