Below is a guest and analysis leaflet from Maarten Henskens, President of ASTAR.
Web3 He has a problem with value capture. Despite billions of market value, most projects continue to extract value from their societies instead of returning them. While the owners of the investment capital and the founding teams are large bonuses through symbolic sales and tables of time, the first adopters and members of society who lead actual adoption often see decreasing returns over time.
This needs to be changed-and the treasury governed by society is the most effective way to achieve this.
The inevitable return value
For a long time, Crypto worked mainly under an extractive model. Projects are constantly reduced by the value of the symbol by increasing the offer through grants, incentives and institutions, and leaving their societies to accommodate this inflation. At the same time, the revenues resulting from these ecosystems – whether through gas fees, serial revenues or demand fees – declined to the distinguished symbol holders who enabled the project success in the first place.
Without mechanisms to return the value to members of society, projects face increasing difficulty in maintaining participation, loyalty and growth over time. This industry began to recognize this challenge, as various protocols explore new curricula for the treasury management that gives priority to society.
The first community is the treasury management
Projects have a moral commitment to return value to their societies as soon as the range and sustainability are achieved. Those who presented early liquidity, built the initial applications, and took the risks during the unconfirmed stages worth participating in the success of the project to what is just a symbolic appreciation.
Strategic re -purchases provide a transparent and effective mechanism to fulfill this commitment. When Offchain Labs announced the strategic purchase plan for ARB symbols, critics assumed it is a price support mechanism. In fact, by obtaining the gradually distinctive symbols according to pre -defined parameters, Offchain Labs creates a positive and necessary relationship between the use of the network and the value of society.
The movement laboratories showed similar thinking when they created their strategic reserves after recovering $ 38 million from the Rogue Market maker. Instead of directing these funds to compensate the team or the traditional treasury administration, they are committed to a three -month transparent re -purchase program with portfolio addresses that can be displayed to the public.
Every Blockchain community should think of similar ways.
ASTAR is now taking a clear step towards this future through the Astar Finance Commitee Committee (AFC)-a new initiative aimed at managing treasury resources in full compatibility with long-term interests of society.
The AFC’s delegation is simple, but strong: DAO allocation management transparently, exploring re -investment strategies that benefit the ecosystem, and create governance mechanisms that guarantee accountability and collective inputs in each step.
From theory to practice
The financing governed by the community depends on a dedicated governance body whose founding goal is to transform the unified resources into a sustainable value of the governed ecosystem.
Instead of leaving the Treasury Department to a small team or allowing valuable resources to sit in lethargy, ecosystems must create an organized committee with representatives from all over the ecosystem, including mainly the basic basis, the wider representative, and collective assembly.
This places strategic financial decisions in the hands of those who have experience to implement them while maintaining transparency and accountability for the entire society. Transparency cabinets are gained, and governance is enabled to explore multiple methods of generating sustainable revenue flows that can be reinforced into the ecosystem.
What makes this model particularly strong is its flexibility and the supervision of society. The committee evaluates potential strategies regularly-from providing liquidity on lending protocols and Dexs to avoid assets and investing in early stage projects. All activities should be made with regular reports and public access to multiple transactions.
Beyond grants: written ecosystems
The model based on grants that dominated the encryption for years should be seen as training wheels that must come in the end. Despite its effectiveness of Bootstrapping activity, the distribution of distinctive symbols to stimulate adoption only delays the inevitable account with value capture.
The treasury administration governed by the community represents the next evolutionary stage in the advantages. By implementing transparent mechanisms to return value-through burns or repurchase operations (which are made according to relevant regulations), or the investment of the ecological system-projects can create self-enhancement systems that benefit all participants.
This creates something that web3 can only offer: cooperative economy. Correctly designed treasury operations ensure that success is real.
Transparency as requirements
In order to achieve re -purchases the purpose of enriching society instead of manipulating the market, transparency is not negotiable. Projects must be clearly transferred the precise source of treasury operations; Specific parameters dictate timing and implementation; Governance mechanisms that provide community supervision; The long -term strategy is behind this initiative.
Regular reports (monthly secondary reports and main quarterly reports), and the multi -sided governor, and the transparent implementation of all operations, guarantee that the community can verify and verify each procedure.
When users can check for revenue or sequence revenues or protocol in re -purchases through transparent transactions on the chain, it enhances confidence in the ecosystem. This distinguishes the return programs on the legitimate value of the short -term price manipulation attempts.
An invitation to the development of industry
Each Blockchain project, which generates significant and dangerous revenues on long -term sustainability and society align some forms of the treasury governed by society.
The pioneers who implement these programs today create what will soon be the usual practice in the industry. By creating transparent mechanisms and rule of society to return the value, they create a logical and inspection link between the adoption of the network and the interest of society that benefit those who make the ecological system possible.
Although these methods will not solve every Web3 problem, they deal with something that the space lacks greatly: a systematic relationship between the success of the ecological system and the benefit of society. It is time to return the favor to the societies that made these networks possible – not only with appreciation, but with real and measurable returns governed by the societies themselves.
