Prediction Markets, But For Everything. Futarchy With Proph3t

Can you short real life? That’s the idea behind Futarchy. By applying financial logic and smart contracts to ordinary life, you can create prediction markets that help people create better decisions. Today Proph3t of MetaDAO joins the Gwart show to discuss what Futarchy is, how it relates to DAO governance for projects like DeFi, where the tokens are at and if traditional entrepreneurs could thrive in a world where DAOs run the ship. Follow our guest on Twitter:  @metaproph3t Timestamps: 00:00 Start 00:50 Profit's background 01:51 What is futarchy? 02:22 Problems with DeFi governance 03:02 What projects need governance? 06:14 How does MetaDAO work? 07:25 Markets vs voting 09:14 What issues should be decided by futarchy? 11:15 Why markets know best? 16:20 Would Steve Jobs survive futarchy? 17:13 Does futarchy fix bad management? 20:34 Are DAOs companies? 22:09 Does futarchy always lead to NGU? 23:00 What is the Meta token? 24:26 Recent MetaDAO proposals 25:54 $250k bet on recent proposal 28:30 Why build on Solana? 29:59 Solana culture 31:19 Examples of novel ideas 34:02 Professional DAOs 37:21 Forking vs voting 40:12 Open source protocols vs DOAs 41:56 Tokens, tokens, everywhere 47:58 Shareholder rights? 51:28 It's all prediction markets 55:01 Prediction markets a threat to democracy? 58:38 Variables in social welfare 👋The Gwart Show is proudly presented by Ellipsis Labs! Ellipsis Labs is building foundational products in DeFi. Their first product @PhoenixTrade is the leading orderbook DEX on Solana. The team is growing—visit ellipsislabs.xyz for engineering opportunities. Enjoy the show? Check out our website and newsletter by clicking here. Questions or want to sponsor? [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices