It makes no sense not to have a dao. if

Question

It makes no sense not to have a dao. if

celsius implements utility the community does not like they will make enough noise until celsius fixes the utility. why not save that step and use a DAO efficiently from the start?

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04.12.2021

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Maximus6000 Автор вопроса

Jesus B
I like the idea of a DAO, however I think it's too...

no one said everything had to go all out dao all at once you could easily push more responsibilities to it. it is not too early in my eyes. celsiusx is great but many won't join a kyc platform they will find a different interoperability solution

0

04.12.2021

Jesus B · Accepted Answer

I like the idea of a DAO, however I think it's too early for that, it introduces governace risks that could potentially destroy the token and the company itself, a few whales could outvote every decision and drain the value from the protocol. CelsiusX has to come up with a bulletproof plan for the token, one that aligns interest of all the participants with proven utilities over time, then we talk about handing it over to the community. There is an interesting paper released this year by Vitalik about governance risks in DeFi, worth a read https://vitalik.ca/general/2021/08/16/voting3.html

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It makes no sense not to have a dao. if

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