> "60% of the top 25 DAOs hold 90% of their assets in their native token" All these sums seem pretty crazy to me. I don't think there are many non-crypto companies with $100M+ worth of assets and no proper treasury management strategy. I think your point that "diversification is perceived as a euphemism for dumping your native token in favor of stables" is true. There's a lot of social pressure from both traders who want the number to go up and community members who might be worried about potential governance attacks. And the question is, should we follow the TradFi stock market, where most of the stocks are owned by private and institutional investors and not insiders? If so, should DAOs have an equivalent of Class A shares, like Facebook, that let Zuckerberg keep control of the company despite owning about 13.5% of all shares?