# kaal:claim:3949098-027

**Claim.** Against the view that firm commitment underwriting is antithetical to decentralization, Kaal argues it in fact further enhances the level of decentralization.

**Type.** mechanism  **Support.** argued

**Holds when.**

- firm commitment underwriting by the DAOIC member collective

**Source quote.**

> While firm commitment underwriting may be seen as antithetical to decentralization, it in fact further enhances the level of decentralization.

**From.** Wulf A. Kaal, *Reputation as Capital – How DAOs Upgrade Finance* (2021), II. Basic Concept, 4. Decentralized Underwriting, page 15

**Cite as.** Wulf A. Kaal, Reputation as Capital – How DAOs Upgrade Finance (2021). SSRN: https://ssrn.com/abstract=3949098

**Verify.** sha256 of source PDF `04297905564a6092b2db7640561f58fd374d3114c79527357bad09d11b909819` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20-%202021%20-%20Reputation%20as%20Capital%20%E2%80%93%20How%20DAOs%20Upgrade%20Finance.pdf

**Topics.** decentralization, defi, governance-design

**Keywords.** decentralization, firm-commitment-underwriting, contested-view, governance

**Related claims.**

- generalizes: https://wulfkaal.github.io/claims/4685567-019

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