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

- Channel: [ETHGlobal](https://streameth.org/ethglobal)
- Date: 2025-10-09
- Duration: 21:50
- Topics: onchain governance, DAOs, Aragon, modular governance, optimistic governance, veto, referendum, decentralization, centralization, regulatory uncertainty, incentive alignment, token holders, VE gauge model, token value accrual, protocol security, defense, offense, automation, AI, Lido, Curve, Aerodrome, Katana, grants, token locking, participation, open source, DeFi, decision-making
- Watch: https://streameth.org/watch/yt-T0oG9XNLhDQ
- YouTube: https://www.youtube.com/watch?v=T0oG9XNLhDQ

## Description

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

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