A road between two cities can unlock increasing returns from gains from trade. But the same road privately owned can throttle growth if the owners choose to extract rent up to the value trading between the two cities. Public ownership over a network also has its own perils, being susceptible to

Networks with increasing returns are most ecient when treated neither as purely public nor purely private goods, but rather as partial and plural shared goods . DeSoc provides the social substrate to unbundle and recongure rightsrights of use (usus), rights to consume or destroy (abusus), and rights of prot (fructus)and enable ecient governance mechanisms across these rights that augment trust and cooperation while checking for collusion and capture. Weve explored several mechanisms throughout this paper, such as community-based SALSA and quadratic funding (and voting) discounted by correlation scores. This third way of partial and plural ownership avoids the Charybdis of private rent

In many ways, DeFi today is a decreasing returns private property paradigm retrotted onto increasing returns networks . Built on the premise of trustlessness , DeFi is inherently limited to the realm of wholly transferable private property (e.g., transferable tokens) that mostly bundles usus, abusus, and fructus. At best, DeFi risks throttling network growth by rent extraction and at worst risks ushering in dystopian surveillance monopolies dominated by whales'' who harvest and hoover up data in a race-to-the-bottommuch like web2. DeSoc transforms DeFis race to control and speculate on the value of networks into a bottom-up coordination to build, participate, and govern them. At minimum, DeSocs social substrate can make DeFi

Electronic copy available at: 17 sybil-resistant (enabling community governance), vampire-resistant (internalizing positive externalities to build an open-source network), and collusion-resistant (preserving a networks decentralization). With DeSocs structural corrections, DeFi can support and expand plural networks that confer benets broadlyas agreed upon by the most diverse membersrather than further entrenching networks captured