I think this is a very good post and I agree with most of what you write.
- Decentralization is a tool, not a goal. One pays a very heavy price for decentralization in terms of efficiency, speed of execution and decision making. I think decentralized governance of the DeFi protocols is none-the-less very important. It allows us to build incorruptible systems. The only alternative I think worth considering to decentralized governance is no governance at all - in which case, upgrades become near impossible.
- I think decentralization of strategy and execution has not proven itself. The dream is that we all come together and contribute. Sovryn is community built. Most of the people working on it - “the team” - started as just casual community members and their contribution and activity just ramped up. However, what we have found is that as people turn to spending most of their waking hours on Sovryn, they do become a “team”. There is a discontinuity in the engagement spectrum, it is not a smooth spectrum. You go from casual to dedicated.
- I think that Sovryn is an innovation platform. We are attempting to build innovative technologies and products. This requires creativity, and an almost delusional appetite for risk. Moreover, it requires that you have to be willing to do what pretty much everyone disagrees with - because otherwise you are not innovating. You have to be disagreeable. This does not work well with non-hierarchical community decision making. There are 2 failure modes:
A. Highly agreeable community culture - the hard decisions cannot get made.
B. Disagreeable community culture - turns toxic. Everyone is willing to take risks, but these are different risks and no hard decisions can be made. - This is why I have been pushing for Sovryn to launch products as independent projects - with their own community, team and token. The more that Sovryn tries to do under a single banner and the. ore things it needs to maintain, the less flexible and dynamic it becomes.
- I am extremely proud of what we have done with Sovryn. We succeeded beyond any reasonable expectation. I think we have been weighed down by two main things:
A. Rootstock - which has hindered us in every way possible and wasted massive resources.
B. Our Omni-system structure. We are doing too many things and decision making for everything runs through Bitocracy. - I have been working for years on an escape plan for Sovryn - a way to escape these two things that have been weighing us down. BOS is the lever. BOS is the opportunity escape both, and uncap our growth. BOS gives us a platform to escape Rootstock. BOS gives us an opportunity to reset our mission, governance and structure.
I have been working for years to help us navigate these challenges, help push us in the direction of explosive growth, build a system which is as transparent and incorruptible as pragmatically possible and position us for explosive growth. I am not the founder, but, in many ways, I have been playing the kind of role @tatsumaru describes, plugging holes, persuading, pushing, pushing, pushing. I have rarely had the confidence to just come out and say: “this is what we are gonna do”. I feel very uncomfortable speaking for Sovryn. I speak on my own behalf. Despite this, I think I have helped to get us over the hump. I think we are positioned to launch BOS, deploy a launchpad, use it to launch multiple projects building on what we have learned - an improved system of governance, an improved BTC-backed stablecoin, improved trading and a big project I am not in a position to speak of yet. And more.
I do think we could benefit from an external interim CEO. Here is why:
I have twice burned a lot of social credibility, trying to position us for this moment, and lost.
A. MYNT was a highly controversial experiment in launching a product as a separate project. It failed and people like to remind me of that everyday and in every thread.
B. I tried to turn Origins into a separate project so that we could have a robust launchpad ready and waiting. I failed to persuade the community and I think we are much worse off for it.
I think Sovryn could benefit from a new face pushing for things like these. Someone given the mandate to do so. I’m not sure I can credibly be given that mandate. I suspect people would fill every thread claiming that “Yago just wants to grab power”. “Yago is a dictator”. “Yago screwed up MYNT”.
I just want to build. Maybe someone else can give me the aircover to do that.