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15 - ETH is Undervalued

Bankless

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The Rise of On-Chain Governance

This chapter explores the emergence of on-chain governance within DeFi, focusing on its impact on liquidity and market stability, particularly through MakerDAO's MKR tokens. It also discusses the risks associated with on-chain voting and how it can lead to a plutocracy, contrasting this with the reliability of systems like Bitcoin that forgo such governance.

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