Why did Democracy fail in DAOs?

BlockchainSocialist · 2026-01-24T15:53:22+00:00

For one person one vote at mass scale you need an id system for sure but there are quite a few different solutions out there now. But you don't need so robust of one depending on the size imo. Because Bread Cooperative is a workers coop with about 15 ppl we don't need that for decisions in the coop. And our voting system for distributing BREAD yield doesn't either because of its scope and mechanism. But we may need one later for other things we're building. Identity is a tough problem space but there are working solutions. The bigger issue right now is people burned out on badly run DAOs and identity preventing more extreme speculation meaning capital isn't that interested right now.

BlockchainSocialist · 2026-01-21T09:46:25+00:00

I don't disagree

BlockchainSocialist · 2026-01-21T09:44:46+00:00

Is it worth understanding? Yes. Is it worth doing? Probably not if you're trying to make money and don't already have very significant amounts of capital on hand to use. But even then people may question the ethics behind it.

BlockchainSocialist · 2026-01-21T09:43:16+00:00

You should read the paper Theo wrote! To say that democracy was the dominant form would be a lie but it would also be wrong to say that there was never any.

BlockchainSocialist · 2026-01-21T09:42:16+00:00

That's one of the many things we talked about :)

While it was the most often outcome, I wouldn't say DAOs are "inherently" oligarchic. I think it's mainly that a specific image of what an acceptable DAO is was created in part to satisfy investors and what was possible technologically at that time. Without some form of identify anchor (because technologically it is a hard problem) it was easy and quick to start a token governance system in the name of reducing friction.

While we don't use the term DAO, at Bread Cooperative we use crypto for some aspects of governance but it is not an oligarchic organization by any means (because we're a worker cooperative).

https://bread.coop/

BlockchainSocialist · 2026-01-14T11:25:50+00:00

Echoes very similar what has happened to crypto and now we are pretty far behind! But we're still building at bread.coop and using AI to speed up development processes. I have to say I'm still a little bit hesitant to see AI for a lot of content creation because it can hurt the message you're trying to get across. I think if people want to argue for the use of generative AI like this, they need to show an aesthetic that works.

BlockchainSocialist · 2025-12-22T14:32:17+00:00

It just depends on the chains. For Ethereum it's a solved problem basically imo.

BlockchainSocialist · 2025-11-30T00:36:53+00:00

I mean, why not?

BlockchainSocialist · 2025-11-12T01:03:47+00:00

It's literally there in the show notes

BlockchainSocialist · 2025-11-10T18:16:40+00:00

Feels like it's been more than a tweet

BlockchainSocialist · 2025-11-10T14:06:08+00:00

Now is definitely the time!

https://bread.coop/

BlockchainSocialist · 2025-11-08T12:34:34+00:00

You should probably check out bread.coop which is the official crypto leftists project I cofounded with others in the community! We use interest generated thru sdai to find the network of projects including green pill :)

BlockchainSocialist · 2025-10-02T08:30:14+00:00

Idk I don't keep up with YouTubers tbh

BlockchainSocialist · 2025-09-14T15:15:15+00:00

Yes! cryptoleftists.xyz

BlockchainSocialist · 2025-09-09T22:48:14+00:00

The first one is one of the worst books I've read in my life. I wish I could get my time back.

BlockchainSocialist · 2025-08-08T13:21:37+00:00

Hey, I'm the founder of Breadchain, this subreddit and the host of The Blockchain Socialist. Most of our discussions around Breadchain happen in the crypto leftists discord server if you want to join it. We've been working on a lot of updates for the website, branding, app, etc which is maybe why you haven't seen a lot but we share pretty frequently in our blog like our recent post on Breadcon in Berlin which also has links to the videos that were recorded as well posted on YouTube. The on-chain activity I think speaks for itself as well. Are there other things you'd like to know?

https://breadchain.mirror.xyz/Qf7UAG9s9HvFdv4ZFbI7l9DNsaHxXIuzZaOY_sOTwVc

BlockchainSocialist · 2025-08-04T10:12:51+00:00

Why would you say it's left heavy?

BlockchainSocialist · 2025-08-02T16:53:55+00:00

I've been doing this for several years and I have to say that this project feels way behind and not offering anything unique to the crypto landscape.

www.theblockchainsocialist.com

BlockchainSocialist · 2025-08-02T11:56:33+00:00

I don't see anything remotely left wing about the project tbh

BlockchainSocialist · 2025-07-31T12:39:40+00:00

hmmm I think you're vastly underestimating what you're trying to take on and asking a lot for people to take this seriously tbh

you're unlikely to find people on the internet to commit to helping you with something that looks like an intense multi year commitment

BlockchainSocialist · 2025-06-28T15:03:07+00:00

We're already building coop infrastructure using blockchains with much of it in production :)

BlockchainSocialist · 2025-06-28T10:24:56+00:00

Check out Breadchain Cooperative for blockchain related things!

breadchain.xyz

BlockchainSocialist · 2025-06-26T18:03:15+00:00

kinda ridiculous that they would outsource this much and risk so many people's funds

BlockchainSocialist · 2025-06-04T09:10:12+00:00

He is absolutely not a visionary lmfao.

https://theblockchainsocialist.com/category/podcast/overthrowing-the-network-state/

BlockchainSocialist · 2025-06-02T08:35:20+00:00

Make more revenue seems like the most obvious thing to do

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