The common misconception that governance is primarily about decision-making is wrong, outdated, and dangerous. Governance is about taking ACTION.

Special thanks to the many people who have greatly influenced my thinking and provided feedback to various versions of this article: Nick Naraghi, Aaron Soskin, David Ehrlichman, Jon Hillis, Ven Gist, Tracheopteryx, David Phelps, Kames Cox-Gheraghty, Nich Kesonpat, Travis Wyche, Tae, Christian Lemp, Joshua Tan, Kevin Seigler, Chase Chapman, Marcus Phillips, Stefen Deleveaux, earth2travis, Daniel Ospina, Lane Rettig, Richard Bartlett.

This article was originally published in Haus Party, DAOhaus’ newsletter, on October 28, 2020. This version includes some light edits.

This article was originally published in Haus Party, DAOhaus’ newsletter, on October 21, 2020. This version includes some light edits.

Tokens are incredibly powerful incentive mechanisms, and power corrupts. Welcome to this multi-part series, in which we’ll explore why tokens are so powerful, how things can go awry, and what can be done about it.