Unchained The Chopping Block: Is Ether the Only ‘Organic Yield’ in Crypto? - Ep. 477
Apr 6, 2023
In this lively discussion, Laura Shin, an author and crypto journalist, joins Haseeb Qureshi, Tarun Chitra, and Tom Schmidt to dissect the Arbitrum governance crisis and its implications for decentralized organizations. They delve into the impact of the Shanghai upgrade on Ethereum staking, conversing about ETH's unique organic yield. The conversation takes a dramatic turn as they reveal the fallout from a $25 million MEV attack, exploring Ethereum's vulnerabilities while weaving in some lighthearted banter about personal choices, including haircuts!
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Arbitrum's Governance Drama
- Arbitrum's first governance proposal (AIP1) aimed to allocate 750 million ARB tokens to the Arbitrum Foundation with minimal oversight.
- Token holders rejected this, forcing the foundation to revise their approach and split AIP1 into smaller, more manageable proposals.
The Reality of Early-Stage DAOs
- DAOs and foundations require funding and resources to operate effectively.
- Early-stage DAOs often involve a degree of insider control, resembling centralized entities initially.
Transparency in DAO Governance
- Be transparent with your community, especially when making significant decisions.
- Avoid the appearance of manipulating governance processes.