This Billion-Dollar Crypto Collective Is Tearing Itself Apart

Something on which everyone can agree, whether fans of Christensen or not, is that the existing governance system is in need of reform. “There are a lot of teams, and it is not always easy to get a sense of the value they are providing,” says Derivaux, and MakerDAO is paralyzed by an inability to reach decisions quickly. Less clear is whether Endgame will resolve these problems.

“The impact Endgame will have is really difficult to say,” says Johnny_TVL, senior research analyst at Messari, a specialist crypto research firm. “Certainly, if fully executed, it seems like it would adeptly decentralize the protocol. But given the complexity, it is unlikely to

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