![plutocracy steam plutocracy steam](https://static.tildacdn.com/tild3566-6637-4634-b230-343065623432/_.png)
But it is also important to keep in mind the risks of such schemes, as the recent hostile takeover of Steem and subsequent mass exodus to Hive makes clear. The rising popularity of formalized decentralized governance of some form is undeniable, and there are important reasons why people are interested in it. But it's also true outside of Ethereum, with arguments over infrastructure funding proposals in Bitcoin Cash, infrastructure funding votes in Zcash, and much more. There are examples inside of Ethereum: YFI, Compound, Synthetix, UNI, Gitcoin and others have all launched, or even started with, some kind of DAO.
![plutocracy steam plutocracy steam](https://steamcdn-a.akamaihd.net/steamcommunity/public/images/clans/31510884/2bb2e300b22b42f3f8a4ae70dc8f80323b0f7c74.jpg)
![plutocracy steam plutocracy steam](https://cdn.akamai.steamstatic.com/steam/apps/754500/ss_c4057093dfdcf886a3cb24af36a9765cf152554a.1920x1080.jpg)
While the 2020 is often widely, and with much justification, hailed as a year of DeFi, over the year since then the growing complexity and capability of DeFi projects that make up this trend has led to growing interest in decentralized governance to handle that complexity. One of the important trends in the blockchain space over the past year is the transition from focusing on decentralized finance (DeFi) to also thinking about decentralized governance (DeGov). See also Notes on Blockchain Governance, Governance, Part 2: Plutocracy Is Still Bad, On Collusion and Coordination, Good and Bad for earlier thinking on similar topics. Special thanks to Karl Floersch, Dan Robinson and Tina Zhen for feedback and review. Moving beyond coin voting governance 2021 Aug 16 See all posts