Uneasy Money: Why Tokenholders Have No Rights & Why Every DAO ‘Has Failed’ - Ep. 984

My guess is if they had been forced into acquiring this team for the outstanding token FDB of a 100,000,000, they would have been like, guys, like, there's no way that's happening. Nothing is unhackable ever, guys. Ever, ever, ever, ever. And if someone tells you that it's unhackable, run. They're like, they're really fast. Yeah. DAOs are are notoriously inefficient. How dare you? How dare you say that about a beautiful DAOs? The open interest in, like, size of dollars, I think, on these prediction markets is actually just not that big, I think, relative to the mindshare that they've got. Hey, everyone. I'm Kane Warrick and welcome to Uneasy Money because what happens on chain never stays on chain. I'm here with Luke Annette, CEO of Pudgy Penguins, and Taylor Monahan, security at MetaMask. And we have a special guest, Guy from Athena. Hey, guys. How are we doing? Alright. Before we get started, here's a word from the sponsors that make the show possible. Multichain Advisors is an emerging technology growth firm that has helped create over $50,000,000,000 in enterprise value for more than 80 clients, like Pith, MoonPay Commerce, and Wormhole. They've worked with some of the largest and most impactful companies in the space. They're the partner you want when you're navigating markets and trying to break up from the noise. They help navigate TGEs, go to market, BD and partnerships, capital markets advisory, PR, media placements, Kayla activations, and more, driving execution from launch to scale. Their results are measurable. To learn more and start building real traction today, visit multichainadv.com. One quick thing before we get started. Nothing you hear on the uneasy money is financial advice. We're just for builders about, talking about what's happening on chain, and we want you to always do your own research before aping in. You can find all our disclosures at unchainedcrypto.com/uneasymoney. Alright. Let's get into it. I feel like, it's actually good timing that we've got you here, Guy, because we've got lots of, interesting governance debates within DeFi. So, yeah, I feel like you're gonna have some takes on that. First one we're starting with, is AVE's civil war, and a question of who owns the protocol. So one of my my favorite TradFi guys, is Matt Levine from Bloomberg. And he talks about like who owns a company all the time. And so it feels, you know, pretty amazing that DeFi has finally invented that same question. But for DeFi, who owns the protocol? A governance debate kind of emerged because, Aave, so we have Aave Labs and Aave DAO. And Aave DAO is this, like, loose collection of people and token holders, token voting, etcetera. And then Aave Labs is the kind of labs entity that does a lot of the engineering work, marketing, etcetera. And, there was a deal with Calswap, a DEX, a DEX on Ethereum, where the integration fees appeared suddenly to be going to Aave Labs, not the …