ignasdefi.eth on Agora

Delegate Statement

A brief intro to yourself:

Content creator and active delegate for Lido, Arbitrum and others.

A message to the community and ecosystem:

Currently, DeFi DAOs face several internal issues, such as voter apathy leading to governance attacks, insider voting, and voting concentration among a few active voting addresses.

Additionally, they face external challenges like regulatory uncertainty.

I believe in a decentralized future, even if it seems naive.

However, the current state of crypto is plagued by misaligned incentives that prioritize short-term speculative gains over the core DeFi values of self-sovereignty and custody.

Equally concerning is the trend of McKinsification in DAOs, where decisions are increasingly made by one or two professional consultant delegates. This discourages individual participation, as their opinions and votes have less impact.

To make DeFi DAOs viable, we must align incentives to encourage active participation in governance from the broader crypto community.

I believe that community must be at the core of every DAO.

Without giving the community a say in protocol governance, we’re no better than the Web2 companies we aim to replace—companies that view their “community” merely as users to extract value from.

I will support initiatives that align token holders with the protocol, such as revenue sharing or other methods to bring value to the token.

Token holders are frustrated with exploitative tokenomics that only benefit early insiders who acquired tokens at much lower prices, leaving no upside for new investors. Without incentives to buy and hold tokens, the attractiveness and health of DAOs decline.

Finally, I will highlight key votes and decisions of the DAO on X and my blog, as I believe the general public is often unaware of important actions being taken.

Discourse username:

Top Issues

Community

I will support initiatives that align token holders with the protocol, such as revenue sharing or other methods to bring value to the token.

Governance

I believe in a decentralized future, even if it seems naive. However, the current state of crypto is plagued by misaligned incentives that prioritize short-term speculative gains over the core DeFi values of self-sovereignty and custody.