A16z Crypto executive: Foundation model for crypto projects has hindered industry development

According to The Defiant, Miles Jennings, the policy director of a16z Crypto, pointed out in his blog on June 2nd that the foundation model of projects such as Ethereum and Solana has hindered industry development. He believes that there are four major shortcomings in the current foundation: 1) lack of market accountability mechanism; 2) Legal restrictions on commercial activities; 3) Low operational efficiency; 4) Evolved into a centralized manager. Martin de Rijke, Head of Growth at Maple Finance, added that corporate operations are more adaptable to rapidly changing market demands. A16z suggests using a regular development company instead of a foundation model, believing that the company can allocate resources more efficiently and respond to market demand. The Uniswap Foundation is considered one of the few successful cases. Jennings proposed two alternative solutions: 1) the decentralized non-profit association (DUNA) grants DAO legal subject status; 2) Implemented through on chain tools&34; Cyborg organization&34; government. Analysts point out that as the regulatory environment in the United States improves, the offshore foundation model that conceals control needs to be reformed.