Hello! I recently considered Livepeer’s proposed approach to decentralized governance and wrote this article. A few questions arose as a result:
Are market forces enough to incentivize present and future LPT-holders to distribute LPT to new stakeholders?
I think that the present incentive mechanisms have effectively rewarded early participants (including present participants), but I am skeptical that they're extensible to future stakeholders. As the network becomes more useful, it could be tempting for existing stakeholders to monopolize ownership of the network.
How can the network incentives enable future stakeholders to have meaningful buy-in? If the token is a critical element of governance, and governance is to be extensible, shouldn't the token distribution process also be extensible? Perhaps market forces are insufficient to grow the network.