# kaal:claim:3652481-010

**Claim.** A DAO focus on the value enhancement of fungible tokens can produce short termism and lead the organization to ignore ethical and governance issues.

**Type.** failure  **Support.** argued

**Holds when.**

- fungible tokens are the dominant value metric

**Source quote.**

> Yet, the focus on the value enhancement of fungible tokens can lead to short termism and may ignore ethical and governance issues.

**From.** Wulf A. Kaal, *Decentralized Autonomous Organizations – Internal Governance and External Legal Design* (2020), III.1 Path Dependencies, page 22

**Cite as.** Wulf A. Kaal, Decentralized Autonomous Organizations – Internal Governance and External Legal Design (2020). SSRN: https://ssrn.com/abstract=3652481

**Verify.** sha256 of source PDF `530b3a40c244aeca2eb4c53f4c9b4d6b2962bd6be9f92b4ebe17139c17f4c0e0` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20-%202020%20-%20Decentralized%20Autonomous%20Organizations%20%E2%80%93%20Internal%20Governance%20and%20External%20Legal%20Design.pdf

**Failure mode.** fungible token short termism  (family: short-termism)

**Topics.** tokenomics, risk-and-incentives

**Keywords.** fungible-tokens, short-termism, ethics, path-dependency

**Related claims.**

- restated_by: https://wulfkaal.github.io/claims/3799320-005
- extended_by: https://wulfkaal.github.io/claims/3808852-016
- extended_by: https://wulfkaal.github.io/claims/3782201-027

**Canonical form.** This markdown file is the canonical hashed representation of the claim. Its sha256 is the content hash used for attestation.