Gate News, March 16 — a16z crypto policy chief Miles Jennings wrote that the crypto industry should move away from the foundation model and shift toward a structure of Developer Companies to achieve better incentive alignment, growth, and influence. Jennings pointed out that the foundation model was once a temporary solution to regulatory uncertainty but has now become a source of friction for industry development. Foundations have multiple limitations: difficulty deploying capital efficiently, inability to attract top talent, slow response to market feedback, and restrictions on commercial activities due to their non-profit nature. He suggested that founders do not need to relinquish control over network development; company structures can align interests through various methods such as adopting PBC (Public Benefit Corporation) frameworks, implementing revenue-sharing mechanisms, setting milestone-based ownership clauses, establishing contractual protections, and introducing programmatic incentives. Additionally, new organizational forms like DUNA (Decentralized Unincorporated Nonprofit Association) and BORG (Cybernetic Organization) can grant DAOs legal entity status and on-chain governance capabilities, eliminating the centralization drawbacks of traditional foundations.
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