What's the Governance of an Exchange Protocol or a Lending Platform?

Derek Hong: I think the reason is when you look at some of the proposals with different protocols, they're very stressful proposals. Like if you mess up certain parameters on the protocols, millions of dollars are suddenly at risk and the protocol could be under collateralized. Whereas with now, it's like you're playing an MMORPG and you're ship posting with some of your friends on like the global world chat. Now, at the lowest point, I think it was $100,000 to join the Dow. And in the early days, it was often about half a million dollars.