Takeaways: DAO governance is starting to look less like community participation and more like product capital allocation. ZKsync is a direct example: tokenholders are being asked to fund Matter Labs’ Prividium roadmap and institutional network development.SafeNet is a token-utility example: SAFE is moving from governance token toward a role in network security.Meta Pool is a liquid staking example: governance decisions affect validator distribution, token incentives, protocol rewards, and how...

In April, the Lazarus group, a cybersecurity organization sponsored by the North Korean government, exploited KelpDAO for about $292 million. The hacked used forged cross-chain messages to mint 116,500 unbacked rsETH and then use that asset inside DeFi lending markets. Note: rsETH, issued by Kelp DAO, is a liquid restaking token (LRT), that allows users to deposit their Ethereum staking assets (like stETH or ETHx) into EigenLayer and earn compounded yields. The exploit destabilized the DeFi i...

DAOs Should Run Like Onchain BusinessesTakeaways:DAOs are increasingly making business-critical decisions, not just governance-process decisions.The next phase of DAO maturity is better operating discipline around revenue, value accrual, treasury management, and accountability.Governance quality will increasingly depend on whether protocols can connect legitimacy with economic execution.Why this shift mattersAcross multiple ecosystems, the direction is becoming clearer. Protocols are increasi...

I know — you're probably sick and tired of seeing New Year predictions. Or, maybe you enjoy them. I don't know. People do like making (and reading!) predictions. It's kind of part of our nature. I don't usually write prediction posts, but this year feels different. AI is here. ChatGPT is used by, what feels like, virtually...everyone. Claude is too, and the exciting updates keep coming. We even have robots now—Waymo self-driving cars are already on the road. If you’ve watched Stranger Things,...

At a basic level, most people already understand why privacy matters. You wouldn’t show your bank account to anyone who asks. You wouldn’t hand over your entire financial history just to participate in everyday life. This intuition is almost universal. At the same time, we also accept that privacy isn’t absolute. Government employee salaries are public. Nonprofit tax returns are public. Certain kinds of transparency are healthy, even necessary. So privacy isn’t a binary. It’s contextual. The ...

A question I get a lot from friends is some version of: “What do you actually do?” When I try to answer, I usually reach for an imperfect analogy: governance work in crypto is closest to a board of directors — except it’s decentralized, transparent, and governing an open-source, permissionless protocol rather than a single company. That difference matters a lot. In most crypto ecosystems, there are three distinct stakeholder groups that coexist in tension:the Corporation or Labs entity that o...

Greetings, readers! (or Gm, as we commonly greet others in the crypto community). The purpose of this newsletter is to provide digestible breakdowns of complex protocols and products in the Ethereum ecosystem. You can expect quality substantive content (no hype pieces, shilling, or paywall) written for crypto-curious readers who are either newer to crypto or seasoned users who value refreshers on the fundamentals. You can learn more about this newsletter in the introductory post.ΞTH Market Ca...

This is a lay of the land, breaking down how social platforms have innovated, scaled, and, in many cases, failed. By analyzing their strategies—what worked, what didn’t, and why—we can better understand the challenges and opportunities facing the next generation of social networks.

Greetings, readers! (or Gm, as we say in crypto). This newsletter provides digestible breakdowns of complex protocols and products in the Ethereum ec...

Hey readers, this is a quick PSA post about this newsletter. TL;DR I'm raising funds in the "How We Connect" Gitcoin round. I aim to focus more of my...