1. Views on DAOs
DAOs (Decentralized Autonomous Organizations) were a sector I was highly optimistic about in the early days—around 2018–2019.
At the time, I was far more bullish on DAOs than DeFi. My reasoning, as I’ve mentioned in previous articles:
- Full On-Chain Autonomy: DAOs, in theory, could operate entirely on-chain, eliminating reliance on centralized systems.
- DeFi’s Limitations: Most DeFi projects depend on oracles, which bridge off-chain data to on-chain smart contracts—creating vulnerabilities to external interference.
The ideal DAO would be a self-sustaining, smart contract-driven system capable of autonomous decision-making and project advancement.
However, years of experimentation have shown that such DAOs are rare or underutilized (e.g., Aragon). Most current DAOs function as token-based voting mechanisms, often dominated by project teams or initial investors (e.g., venture capital firms).
Future Outlook
Despite setbacks, I believe truly autonomous DAOs will emerge, likely led by a globally distributed yet tightly coordinated core team. These DAOs will leverage token incentives and on-chain governance to outperform traditional collaborative platforms like GitHub in transparency and efficiency.
2. Evaluation of ENS
ENS (Ethereum Name Service) is a recurring topic among readers, reflecting its status as an Ethereum OG—but also its stagnation.
Key Observations
- Limited Innovation: ENS’s ecosystem projects (e.g., ens.vision) often show more dynamism than ENS itself.
- Slow Progress: Efforts to expand into Ethereum Layer 2 solutions have seen little visible advancement in 2024.
- Personal Action: I sold my ENS tokens but retain a few valuable domains.
👉 Explore more about Ethereum Layer 2 solutions
3. ORDI Team Assessment
ORDI is a token defined by a script, with no ongoing development post-launch.
Critical Points
- No Active Maintenance: ORDI’s code is immutable, requiring no team upkeep.
- Founder’s Role: Subsequent protocols (e.g., inscriptions, runes) by ORDI’s creator are distinct projects, akin to Bitcoin’s relationship to altcoins.
FAQs
Q: Are DAOs viable replacements for traditional corporations?
A: Not yet—most lack autonomy, but future DAOs may combine global talent with token-driven governance.
Q: Why has ENS underperformed?
A: Slow adoption and innovation delays; competitors are outpacing its Layer 2 integration.
Q: Is ORDI a good long-term investment?
A: Like Bitcoin, its value hinges on community trust, not active development.
👉 Learn how to evaluate crypto investments