Andreas Melhede
@amelhede
1 Token Does NOT equal 1 Voice: Rethinking DAO Governance Everyone's raving about 1 token = 1 vote in DAOs, but hold on a sec! ā
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Andreas Melhede
@amelhede
What about whales with mountains of tokens, drowning out the voices of the passionate minority? This system can lead to votes where 30 people scream "NO!" but 3 whales with more tokens than the other 30 voters say "YES!" and... the whales win. Is that truly community-driven governance?
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Andreas Melhede
@amelhede
Let's imagine a better future for DAOs! Here's why 1 token = 1 vote falls short:
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Andreas Melhede
@amelhede
1. Whale Power: A few rich players control the outcome, stifling diverse voices. Say goodbye to true community participation. But that is only the first issue:
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Andreas Melhede
@amelhede
2. Short-Termism: Whales might prioritize immediate gains over long-term vision. This can hurt the DAO's growth and sustainability. And what about the integrity of the system?
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Andreas Melhede
@amelhede
3. Gaming the System: People might buy tons of tokens just to swing a vote, not because they believe in the project. GIF: (Not cool) Here are some options to fix DAO voting:
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Andreas Melhede
@amelhede
Reputation-Based Voting: Reward active, engaged community members with more voting weight. Let the most knowledgeable voices guide the DAO! What else?
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Andreas Melhede
@amelhede
Quadratic Voting: Allow people to "burn" tokens to amplify their vote. This empowers passionate individuals while preventing whales from buying dominance. Of course, we can also find a balance and utilize:
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