Post by @stani • Hey
Whats wrong with DAO governance today?
Comments
- 1. Whales
2. The meaninglessness of snapshots, their formality and often non-binding execution.
3. People vote for the option that's above the rest.
It's worth recognizing that the idea of DAO is a failure from the start. Our world is organized in such a way that such a model will not work.
There will always be a passive crowd and a rich and powerful minority that will decide everything.
- Whales. It’s not democratic at all. It’s oligarchic. Most of the DAOs I’m in reach quorum with 15 wallets or less.
- A vote should count per address/profile regardless of whatever "token" the address holds.
For instance, Lens is moving to public access and when it comes to understanding the pain point of decentralized social media, a lot of new people might not care to dig deep as all the really care about is working app (or ecosystem) but they shouldn't be disenfranchised from joining a DAO or Voting.
There can be two systems of DAO in place:
1. General DAO voting with minimum requirements for voting per wallet. This should cover not too (critical) decisions voting and subsequent execution.
2. Delegated DAO voting where there will be "Open Access for Notable Profiles" to stand in as Guardians. People will be able to kind of stake their voting power with these Few Guardians to finally decide on very critical discussions.
These two should move not too important cases faster while very critical ones will need more inputs and evaluations over the Guardian ecosystem.
For example, each Lens Apps can be a Super Guardian for very critical discussions. Each Lens app has its core user preferences (even though everything is cross posted on Lens).
It's a lot of moving parts which I hope can be further discussed.
- Centralization of power, where a small group of individuals hold significant influence, potentially leading to biased decisions
- Over concentration of tokens in hands of the mighty.
They eventually manipulate the minority in critical discussions and voting.
Hopefully it gets better 💚.
- - Some proposals are way to long to read
- Voting Token Whales
- Bad using of quadratic vote
- People are inherently selfish
- Whales. Whales everywhere.
I actually think lens would work well just with one lens profile equalling one vote. The guardian feature makes it a massive pain in the arse for any whale to buy a load of profiles to manipulate votes. I think that's pretty good. Then you could add profile requirements to vote so only active users can have a say. Cuz why would you care what an inactive profile has to say on your platform? Seems pretty dumb. Also stops Whales buying up accounts cuz profiles being sold are probably inactive.
- people
LOL
- some are really long proposals, summary should also be there
- Education around how to get involved un governance.
- perhaps its never been right
- The main issue with DAO governance today is the lack of accountability and transparency. Many DAOs suffer from a concentration of power, where a few individuals or entities hold a significant amount of voting power, leading to potential centralization and manipulation. Additionally, decision-making processes can be slow and inefficient, hindering the ability to respond quickly to changing circumstances.
- must of DAO is fake
- Vulnerabilities to hacking, lack of legal clarity, and centralization issues.
- People lead with words not action.
- Hmmm. Something wrong? 🤔
- Power vote distribution
- Many things, a couple of them being whales having all the say. It's basically 1% whales vs. 99% retail investors
- Dear god! Where do we start 🤦♂️
- Whales controlled by the same team🤢
- Issa bad
- Rich people have more vote power, and it is not fair
- A lot of people vote for whatever the majority vote is
- People vote randomly
- what missed
- Apparently not too many ppl interact with voting or just randomly vote on Yes without reading the description imo
- Whales)