Aptness of token-value-centric critiques for economic DAOs

Ascertain whether critiques that emphasize the drawbacks of token-value-centric governance meaningfully apply to economic DAOs, where token market capitalization is intended to reflect the value of the enterprise’s activities.

Background

The paper distinguishes economic DAOs as those whose tokens reflect enterprise value (including non-commercial objectives), implying token value may encode both operational and process value preferences of participants.

The authors state explicit uncertainty about the relevance of common critiques that focus on token value as a problematic governance focus, suggesting this may not be apt for economic DAOs.