Leuts

Leuts

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CEO @Aragonproject 🦅 | Prev: @vocdoni 🗳 | University of Waterloo alum 👨‍🎓 | ex-Nat Geo Photographer 📸 |

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We need to create more objective guidelines for tokens. Aave is one of the few tokens that controls protocol fees. Better than 99%. It does not own the Aave IP, UI, etc and has competing equity from the owners of those assets. Decide how that impacts your investment thesis!

@degentradingLSD

after this - token holders in $aave should realise that this is just another defi shit coin. no better, no worse than the rest. x.com/FAGFinance/sta…

This isn’t the argument at all. Token holders want ownership over the assets they helped fund. There’s no prescription of governance. For all you know token holders could simply vote to lease the assets to Aave Labs/Avara for a 5 year period or indefinitely and allow it to do its work free from active participation. The conversation is on ownership not decision making.

This actually isn’t true, there are tokens that do in fact “own” assets: LDO, Aave (protocol), Aero, & CRV The reality is that most founders opted to not give rights to token holders both due to regulatory concerns and misaligned incentives. 2026 is the year that changes

Never forget this: Token's are not like shares - there is no "ownership" Axelar just reminded everyone why. - The core devs get acquired. - The IP moves. - The token stays behind with "governance rights" & no claim on the outcome. Token holders get shafted

Important to remember that even though there’s this public debate over Aave’s IP & UI ownership the protocol is owned by token holders and drives value to those holders. This is exemplary and the 1%. Almost no other project does either.

Aave is one of the very few tokens where value accrues to the DAO and token holders programmatically If there’s any project that can successfully align incentives it would be Aave. Mainly bc they are already halfway there

Michael and many OG’s are honestly the only people who still get it. Onchain governance creates a new paradigm whereby EXECUTION is trustless, removing the need for regulations due to an absence of control.

Laws and regulations are created for the era when intermediaries were the only way to run things, to keep them in control. You also had to split trust between several intermediaries who supposedly do not have conflict of interests for different parts of the process. This all

Onchain user protection is one of the least discussed topics in our industry! We shouldn’t need to rely on inaccessible legal protection for users for onchain activity. We can use code instead. 1. @SteakhouseFi vaults on @Morpho allow for depositors to veto changes in a vault 2. @LidoFinance optimistic dual governance allows stETH holders to veto decisions made by LDO holder Giving users low-overhead and limited powers to veto and exit protects everyone! We need to build more of these primitives and only use products that offer it! By implementing this first before accidents or rugs happen we actually reduce the need for regulators to over regulate!

True! Many newer ve projects we build for are shorter locks. If that is the case smarter to add a strong cool-down period or other defence mechanisms. We also have a lot of confusion as projects market it as “staking” to make it sound more palatable for token holders.

_gabrielShapir0

good overview of buybacks vs. velocking the other thing to note is that outside of curve, most velocking these days isn't really locking...newer projects with ve style models have made withdrawal increasingly an option with little/no penalty... x.com/DefiIgnas/stat…

Outrageously good update by @hasufl summarising yesterday's Lido tokenholder call. Wish we saw more of this from projects with tokens!

Here are my highlights from Lido's second quarterly tokenholder update, which happened yesterday. 🧵

Took a little more off the table on $ZEC. Fully sold out the amount I put in, up 550%. Gravy train keep running!

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