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As smart contracts are immutable how can large DeFi platforms raise their fees to make a profit once, let's say a trillion, is locked in there? What is under token holders' control so that they have any power? Can't users just stick to the old implementat

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I want to understand the power dynamics of these platforms. In web2 if Facebook rolls out a new feature we can either adopt it or leave the platform, we don't have any other choice. That gives them tremendous power as they can keep binding us to use their platform. That is of course what we also want to get rid of with DeFi. If they can't do that we'd rather use the platform. But with completely immutable contracts we always need to coordinate participants toward the new implementation. And if no liquidity is on there for example people have little incentives to move. So the network effects work against us there in a way. What IS under the control of token holders that they can use to coordinate people towards using a new version? The front-ends are probably a way to guide people towards using a new implementation right? They are not really under tokens holder control though. What else is there?

submitted by /u/VLADIMIROVIC_L
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