# kaal:claim:3799320-005

**Claim.** The focus on value enhancement of fungible tokens can drive short termism in DAOs and cause ethical and governance issues to be ignored.

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

**Holds when.**

- DAOs whose incentive design centers on fungible token value

**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, *A Decentralized Autonomous Organization (DAO) of DAOs* (2021), Path Dependencies, page 5

**Cite as.** Wulf A. Kaal, A Decentralized Autonomous Organization (DAO) of DAOs (2021). SSRN: https://ssrn.com/abstract=3799320

**Verify.** sha256 of source PDF `c3dff852f2d3f04718c829a24189309a7db4d92d84f6045d3d4f562d87c03e63` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20-%202021%20-%20A%20Decentralized%20Autonomous%20Organization%20%28DAO%29%20of%20DAOs.pdf

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

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

**Keywords.** fungible-tokens, short-termism, ethics, governance-failure

**Related claims.**

- restates: https://wulfkaal.github.io/claims/3652481-010
- restated_by: https://wulfkaal.github.io/claims/3808852-016
- restates: 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.