Speculators and a Decentralized Hedge Fund Slash Mutual Fund

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In normal markets, speculation is almost a necessityfror both price discovery and making sure that n users are invested. What role do you s speculators as having in an investment product that sort of ti, decentralized hedge fund slash mutual fund type of vehicle? "I think all of these types of products eventually need to have some sort of sta, stable ish equilibria"...

We return for the second half of our interview with Andre Cronje, a long-time DeFi developer, and creator of Yearn Finance. You can think of Yearn as a smart bank account that automatically allocates your assets to different low-risk investment strategies that execute on the Ethereum blockchain. My co-host is Tarun Chitra, the CEO and founder of Gauntlet, a company that helps stress test the incentive structures and economics of cryptocurrency protocols, especially of DeFi protocols. In this episode, we explore governance in Yearn in particular and how governance in DeFi should work in general. What roles exist, and how can we align their incentives? Is governance a feature to be tokenized and sold off, or an attack vector to be closed? How does the price of a governance token affect the security of its parent protocol? And why does Andre eventually want to retreat from being the lead developer of Yearn Finance? Yearn Finance Gauntlet Hasu's article "Is Yearn.finance safe to use?" Episode Transcript