Gurley questions whether governance tokens have value without ability to extract economic rents from the system.
“And everything from my history of studying finance and economics would say that if you declared you'd never rake the system”
Gurley questions whether tokens have value without the ability to rake the system, citing Uniswap DAO.
“It's interesting to me. I've been spending a lot of time trying to go deeper on crypto, and I think there's a fascinating question about whether or not a token will have value if it doesn't have the ability to eventually rake a system that it's involved in. And one of the great examples out there is the Uniswap DAO”