a16z Crypto executives: The foundation model of crypto projects has hindered the development of the industry

PANews
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PANews reported on June 5 that, according to The Defiant, Miles Jennings, head of crypto policy at a16z, pointed out in a blog on June 2 that the foundation model of Ethereum, Solana and other projects has hindered the development of the industry. He believes that there are four major shortcomings in the current foundation: 1) the lack of market accountability mechanism; 2) legal restrictions on commercial activities; 3) operational inefficiencies; 4) Evolve into a centralized manager. Martin de Rijke, Head of Growth at Maple Finance, added that corporatization is better adapted to rapidly changing market demands.

A16Z proposes to replace the foundation model with ordinary development companies, believing that companies can allocate resources more efficiently and respond to market demand. The Uniswap Foundation is seen as one of the few success stories. Jennings proposes two alternatives: 1) a decentralized non-profit association (DUNA) that gives DAOs the status of legal subjects; 2) Implement the governance of "cyborg organization" through on-chain tools. Analysts point out that as the regulatory environment in the United States improves, the offshore fund model that masks control needs to change.

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