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

PANews, June 5th news, according to The Defiant report, a16z Crypto policy director Miles Jennings pointed out in a blog on June 2nd that the foundation model of projects like Ethereum and Solana has hindered industry development. He believes that the current foundations have four major flaws: 1) lack of market accountability mechanism; 2) legal restrictions on business activities; 3) low operational efficiency; 4) evolving into centralized managers. Maple Finance growth head Martin de Rijke added that corporate operations are better suited to adapt to rapidly changing market demands. a16z suggests adopting a regular development company model instead of a foundation model, believing that companies can allocate resources more efficiently and respond to market demands. The Uniswap Foundation is seen as one of the few successful cases. Jennings proposed two alternatives: 1) a Decentralized Unincorporated Nonprofit Association (DUNA) that grants legal status to DAOs; 2) governance of “cyborg organizations” through on-chain tools. Analysts point out that as the regulatory environment in the US improves, the offshore foundation model that conceals control needs to be reformed.