What does it mean when lots of DAOs all own little pieces of each other and participate actively in each other’s governance process? It was one thing whenNuCypher and Keep merged their encryption protocols because that was a clear case of two becoming one. With proposals like this, however, DeFi is becoming a blockchainifiedrat king of endeavors. It’s anyone’s guess where that leads, but at least all the alignment will be viewable on-chain.

The stablecoin yield platform mStable wants Balancer to become an active part of its governance process and to advocate for BAL holders. To that end,mStable has proposed a trade be...