Jonah is a software engineer and co-founder of Den, a product that “helps multi-sigs move fast, without compromising security.”
Kaito is a co-founder of Utopia, a payroll and expense management product for DAOs.
Jonah is motivated by the high activity and energy levels of the current bear market. In previous cycles, many builders and participants left the industry. [3:33]
Kaito is motivated by the tangible impact that crypto has on the foundations of the internet economy. [6:08]
Decentralized coordination is a key problem in crypto due to information asymmetry, day-to-day incentivization, and morale.
The panel discussed the benefits and challenges of streamlining the efficiency of multi-sigs by optimizing for both speed and security. [10:40]
DAOs introduce new concepts of “liquid labor” and “liquid capital”: contributors are able to quickly jump in and out of projects, and capital can be allocated more easily than before. [20:00]
Balancing governance with operations is a common issue, and DAOs are challenged to design models in which both the token holders and organization retain a fair share of control. [22:03]
The future of DAOs will likely be a spectrum of various models, but organizations that are highly parallelizable are ideal candidates for decentralization. [24:30]
DAOs are ideal for sustainable democratic governance structures outside of specific nation-states, but perhaps are not a good fit to replicate traditional large corporations outside of public goods. [31:45]
Hyperstructures could be one of the ideal use cases for decentralized finance and large-scale internet-native public goods governance. [36:27]
Role models: Kaito: Jason Choi and the Gnosis team. Jonah: Brian Armstrong of Coinbase. [42:15]
Kaito is inspired to allow organizations to make better capital allocation decisions. [46:00]
Jonah is excited to help align the various participants in the crypto-native economy: assets, actors, and agreements. [46:40]
Replenish Discretionary Investment Limit Funds: This proposal gives the treasury the ability to quickly react to and take advantage of market opportunities in a non-public manner. The proposal would replenish the cap to the lesser of $5M or 5% of the treasury’s notional value.
Discretionary Swapping of Like-Kind Assets: Currently, the treasury must go through the slow governance process to swap like-kind assets. This proposal would mitigate risk by giving the treasury the discretion to swap between stablecoins, Ethereum/ETH derivatives, and Bitcoin/BTC derivatives.
An emergency rebalancing proposal is being drafted that would allow the team to react quickly to market events, balancing speed versus risk.
The Approved Stablecoin Framework and Treasury Management Framework are both in draft.