Cofounder Pink Brains that elevates quality DeFi projects via organic content and DAO delegation.

We believe in the decentralized future and it means actively participating in Obol DAO in every way we can—whether it’s by serving as a delegate, joining working groups, discussing any proposals or seizing new opportunities that come up.

We will also be sharing key DAO decisions on our X accounts (@defiignas and @PinkBrains_io)

Motivation behind DAO Delegation

Currently, DeFi DAOs face several internal issues, such as voter apathy leading to governance attacks, insider voting, and voting concentration among a few active voting addresses.

We believe in a decentralized future, even if it seems naive.

However, the current state of crypto is plagued by misaligned incentives that prioritize short-term speculative gains over the core DeFi values of self-sovereignty and custody.

Equally concerning is the trend of McKinsification in DAOs, where decisions are increasingly made by one or two professional consultant delegates. Ironically, Pink Brains has a goal of becoming a professional delegate but with a focus on bringing the most value to token holders.

To make DeFi DAOs viable, we must align incentives to encourage active participation in governance from the broader crypto community. We believe that community must be at the core of every DAO. Without giving the community a say in protocol governance, we’re no better than the Web2 companies we aim to replace—companies that view their “community” merely as users to extract value from.

We will support initiatives that align token holders with the protocol, such as revenue sharing or other methods to bring value to the token. Token holders are frustrated with exploitative tokenomics that only benefit early insiders who acquired tokens at much lower prices, leaving no upside for new investors. Without incentives to buy and hold tokens, the attractiveness and health of DAOs decline.

Disclosures

Pink Brains as an organization is delegate for Lido, Fluid, Arbitrum, and Aave. Moreover, we are also expanding to a few value aligned DAOs with the same mission of strengthening them and aligning token holders with the protocol.