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I don't know why you would pick Apple. They are a hardware company. I'm not saying that the introduction of DAOs will be the death of all corporations. I could

I don't know why you would pick Apple. They are a hardware company. I'm not saying that the introduction of DAOs will be the death of all corporations. I could make a much stronger argument for a decentralized social network coordinated by a DAO, so I would make the case for a DAO-controlled Twitter, Reddit, or Facebook (which are software businesses). That's not to say that DAOs couldn't be used for a more physical business but software is certainly a more natural fit. Uniswap, for example, which is a decentralized version of Coinbase or NYSE, has something like 7 or 8 employees, is trading $2B a day in value, and has $8.5B in liquidity available for exchange. This is for a young startup less than 2 years old run entirely on smart contracts. Not bad. https://info.uniswap.org/home https://info.uniswap.org/home https://cryptofees.info/ https://cryptofees.info/

herval 6y ago
Is there anything provided by DAO that makes Uniswap runnable by fewer people? How many people would they need if they didn’t run like you say?
- chrisco255 6y ago
  Yes, the DAO has aligned the community around Uniswap. By distributing governance over the protocol to their early users and community, they've grown to the size that they have. The liquidity providers and the traders have ownership of Uniswap. They now have a $7.5 billion treasury at their disposal, that they get to vote on how to spend based on their percentage of UNI token holdings.
  - herval 6y ago
    So.. they capitalized on the hype around the technology and crowdfunded? From the past comment, I was hoping there’s any benefit to DAO itself that’d make an enterprise this size easier to run - you could technically achieve the same with a kickstarter campaign or a gofundme? Of course, the obvious orders-of-magnitude in value would be different, but that’s inherent to crypto’s inflation, not really due to any virtue of DAO?
    - chrisco255 6y ago
      No, they didn't crowdfund their token. They gave away their token to the early adopters, the users, and the liquidity providers on their platform: https://acceptingcrypto.net/uniswap-token-launch-uni/ https://acceptingcrypto.net/uniswap-token-launch-uni/ They were already live for 2 years by the time they gave away their governance token. Even if you had just done one transaction with Uniswap, you received some UNI. Now, those customers and those liquidity providers are aligned with the future success of Uniswap. They also get to vote on how to spend the $7.5B treasury. Pretty cool model. It's fundamentally different than anything that's come before it. Pay attention to DAOs.
      - inter_netuser 6y ago
        How is this any different from a corporation? At least with corporations you have legal recourse, minority shareholder protections, well developed body of law, and so on.
    - inter_netuser 6y ago
      It also so happens that the early users just so happen to be developers themselves, and hold a Yes, you can achieve the same with crowdfunding/crowdsale - but then you have a corporation and regulations, and the pesky anti-dilutive and other protections of minority shareholders and so on. Governance token should be just called what it is - equity.
- inter_netuser 6y ago
  It's just regulatory arbitrage. What uniswap is doing is quite likely illegal under current laws. Please note: This is an opinion of some legal scholars on their situation. I am not making any moral or ethical judgements here, couldn't care less.
yourabstraction 6y ago
Uniswap is a pretty amazing story about how much operational efficiency can be gained with this technology. I'd say they're doing WAY better than "not bad" :).
- inter_netuser 6y ago
  It's easy to do great when you can skirt any and all regulations. That's the story of this entire space. What legal protections exist there for minority shareholders in the so-called DAO?

herval 6y ago

Is there anything provided by DAO that makes Uniswap runnable by fewer people? How many people would they need if they didn’t run like you say?

chrisco255 6y ago
Yes, the DAO has aligned the community around Uniswap. By distributing governance over the protocol to their early users and community, they've grown to the size that they have. The liquidity providers and the traders have ownership of Uniswap. They now have a $7.5 billion treasury at their disposal, that they get to vote on how to spend based on their percentage of UNI token holdings.
- herval 6y ago
  So.. they capitalized on the hype around the technology and crowdfunded? From the past comment, I was hoping there’s any benefit to DAO itself that’d make an enterprise this size easier to run - you could technically achieve the same with a kickstarter campaign or a gofundme? Of course, the obvious orders-of-magnitude in value would be different, but that’s inherent to crypto’s inflation, not really due to any virtue of DAO?
  - chrisco255 6y ago
    No, they didn't crowdfund their token. They gave away their token to the early adopters, the users, and the liquidity providers on their platform: https://acceptingcrypto.net/uniswap-token-launch-uni/ https://acceptingcrypto.net/uniswap-token-launch-uni/ They were already live for 2 years by the time they gave away their governance token. Even if you had just done one transaction with Uniswap, you received some UNI. Now, those customers and those liquidity providers are aligned with the future success of Uniswap. They also get to vote on how to spend the $7.5B treasury. Pretty cool model. It's fundamentally different than anything that's come before it. Pay attention to DAOs.
    - inter_netuser 6y ago
      How is this any different from a corporation? At least with corporations you have legal recourse, minority shareholder protections, well developed body of law, and so on.
  - inter_netuser 6y ago
    It also so happens that the early users just so happen to be developers themselves, and hold a Yes, you can achieve the same with crowdfunding/crowdsale - but then you have a corporation and regulations, and the pesky anti-dilutive and other protections of minority shareholders and so on. Governance token should be just called what it is - equity.
inter_netuser 6y ago
It's just regulatory arbitrage. What uniswap is doing is quite likely illegal under current laws. Please note: This is an opinion of some legal scholars on their situation. I am not making any moral or ethical judgements here, couldn't care less.

yourabstraction 6y ago

Uniswap is a pretty amazing story about how much operational efficiency can be gained with this technology. I'd say they're doing WAY better than "not bad" :).

inter_netuser 6y ago
It's easy to do great when you can skirt any and all regulations. That's the story of this entire space. What legal protections exist there for minority shareholders in the so-called DAO?