Sanne de Vries

Sanne de Vries analyses decentralised finance and on-chain governance for TokenPR, with a particular interest in the distance between how a system is described and how it behaves under stress.

Their background is in risk analysis, and they approach protocols the way a risk function approaches any other book: by asking what happens at the tail. A lending market is not defined by its yields in a calm month but by its liquidation mechanics on the worst day of the year. A stablecoin is not defined by its peg but by the redemption path when everybody wants out at once. Sanne writes about those mechanics in enough detail that a reader can form their own view — and stops short of telling anyone what to do with their money, which is not what TokenPR does.

On governance they are a persistent sceptic of headline participation figures. Sanne tracks what they call the governance gap: the difference between a DAO's stated decision-making process and the handful of addresses that decide outcomes in practice. Turnout percentages, delegate concentration, quorum thresholds that have never once been tested, and treasuries denominated almost entirely in the protocol's own token are all recurring subjects. The work is less a critique of DAOs than an argument that governance should be measured rather than asserted.

They also cover the NFT sector with the speculative froth removed, focusing on the cases where tokenised ownership solves an actual coordination problem — creator royalties that survive a marketplace change, ticketing that resists resale fraud, credentials that a holder controls.

Sanne writes for Web3 and DeFi, DAOs, DeFi Projects and NFTs. Like everyone on the newsroom desk they publish no price expectations, and they will not write about a protocol whose contracts have not been deployed.