Networks Owned By Their Participants

The author argues that crypto's most important promise is giving a network's participants ownership of it, and that this matters more than memecoin-style ownership. Ownership is said to be meaningful only with governance, so the text calls for new internet-native forms of coordination, which it says is why DAOs are important. The article contrasts this with centralized ownership of wallets, token launchers and consumer apps, which it says would put the future in trouble, and it names Ethereum, ENS, Uniswap and Aerodrome as examples of the infrastructure it has in mind.