Growing & Securing Networks What’s Next for Onchain Governance - Anthony Leutenegger

Thu, Oct 2, 2025, 12:00 AM

Anthony Leutenegger from Aragon discusses the evolution and future of onchain governance for DAOs, focusing on growing and securing decentralized networks. He critiques the limitations of referendum-based, cookie-cutter governance models, highlighting issues like regulatory uncertainty, slow decision-making, and misaligned incentives. Anthony advocates for modular, flexible governance frameworks that separate powers and responsibilities, such as optimistic governance and veto mechanisms, enabling both protocol defense and growth. He introduces Aragon’s modular governance UI and the rise of the VE gauge model (token value accrual kit), which incentivizes long-term participation and aligns token holder interests through locking mechanisms and voting gauges. Real-world examples include Lido’s dual governance, Curve, Aerodrome, and new chains like Katana. Anthony emphasizes the importance of thoughtful, adaptable governance to meet regulatory demands and foster sustainable, value-driven DAOs. 00:00 Introduction 00:36 Conference Location & Opening Remarks 00:56 The Promise and Problems of Blockchain Governance 02:14 Regulatory Uncertainty & Misaligned Incentives 03:31 Centralization vs. Decentralization in Practice 04:53 The Status Quo & Regulatory Trends 06:24 What Should Be Decentralized? Immutability, Automation, AI 07:17 Governance as Defense and Offense 08:13 Optimistic Governance & Separation of Powers 09:47 Aragon’s Modular Governance Approach 11:54 Lido’s Optimistic Dual Governance Example 13:04 Defensive Governance: Protecting Protocols and Users 13:24 Offensive Governance: Incentive Alignment & Grant Programs 14:01 The VE Gauge Model & Token Value Accrual 15:27 Growth Flywheel & Participation Incentives 16:48 Benefits: Anti-Whale, Skin in the Game, Modularity 17:50 Real-World Use Cases: Mods, Aerodrome, Curve 19:10 Token Locking vs. Burn Mechanisms 19:43 New Adoptions: Celo, Puffer, Katana 20:26 Open Source Toolkit & Closing Thoughts 21:09 Final Advice & Conclusion _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 🇫🇷 *Pragma Cannes* Pragma Cannes 2025 was held on July 3rd at the Carlton Cannes in Cannes, France and was an in-person summit for builders and leaders in the web3 ecosystem. Watch the full Pragma Cannes YouTube Playlist here: https://www.youtube.com/playlist?list=PLXzKMXK2aHh6jZYPY5-YIBzvMtUT3ajjI ETHGlobal's Pragma series takes place in cities around the world, and is designed to be a different kind of event. Pragma is a one-stage conference with founders-only on stage, bringing together a small group of curated attendees and speakers to discuss the future of web3 and reflect on the past. _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ ✅ Follow Aragon X: https://x.com/AragonProject ✅ Follow ETHGlobal X: https://x.com/ETHGlobal​ Warpcast: https://warpcast.com/ethglobal Website: https://ethglobal.com YouTube: https://www.youtube.com/@UCfF9ZO8Ug4xk_AJd4aeT5HA _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ Are you interested in Ethereum development and entrepreneurship? 👉 Sign up for the next ETHGlobal event: https://ethglobal.com/events 🎁 Get exclusive access and perks with ETHGlobal Plus! https://ethglobal.com/plus 📣 Want us to throw an event in your city? Tell us where! https://ethglobal.com/city _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _