Measure #1 is unnecessary for us and for DeFi. It does more harm than good, especially in the long run.
It is said that Governance is hindering DeFi. I don’t think that’s true. I don’t think Governance significantly hinders DeFi. The biggest reason why people don’t participate in DeFi is that it’s not very useful as it is now, and whatever utility it does have is not worth the risk. DeFi, like traditional finance, needs other non-financial industries to be useful, and Algorand doesn’t have that much outside of DeFi yet. What DeFi really needs is other non-DeFi industries to come to Algorand and flourish. It needs Algorand to be adopted in various places.
As it is now, most of DeFi is for DeFi’s sake, which makes it have a ponzi-like nature to it. And that is a HUGE turn-off, especially to people who are new the crypto or not in crypto, including software developers. The ponzi-like nature of crypto is the #1 reason I hear why people don’t want to get into anything crypto related, and I think passing Measure #1 would make things worse in the long run. We need to consider Algorand’s appeal to people who are not in crypto because that’s where the real growth is at. We shouldn’t sacrifice Algorand’s appeal to non-crypto people just to satisfy the fleeting impulses of crypto enthusiasts. That’s what Bitcoin did and it made Bitcoin fail in its original mission in being a viable “peer-to-peer electronic cash system”.