PANews reported on June 5th that according to The Defiant, Miles Jennings, the Policy Director of a16z crypto, pointed out in a blog post on June 2nd that the foundation models of projects like Ethereum and Solana have hindered industry development. He believes that current foundations have four major flaws: 1) lack of market accountability mechanisms; 2) legal restrictions on business activities; 3) low operational efficiency; 4) evolving into centralized managers. Martin de Rijke, Growth Lead at Maple Finance, added that a corporate operating model is better suited to rapidly changing market demands.
a16z suggests adopting a standard development company model instead of the foundation model, believing that companies can more efficiently allocate resources and respond to market needs. The Uniswap Foundation is seen as one of the few successful cases. Jennings proposed two alternative solutions: 1) a decentralized non-profit association (DUNA) that grants legal entity status to DAOs; 2) "cyborg organization" governance through on-chain tools. Analysts noted that with improvements in the US regulatory environment, offshore foundation models that mask control need to be transformed.
