The old DAO model is in shambles:

Last weekend, hitmonlee.eth paid 5 ETH (~$10k) on Lobby Finance to buy 19.3M ARB (~$6.5m) voting power.

The ROI for the vote was ~ 66 $ETH in total for paying 5 ETH in voting power!

Learn more on Elon Musk's X

The old DAO model is in shambles:

Last weekend, hitmonlee.eth paid 5 ETH (~$10k) on @lobbyfinance to buy 19.3M ARB (~$6.5m) voting power.

That's more votes than experienced DAO delegates like Wintermute or L2Beat have.

All votes were cast for @CupOJoseph for Arbitrum's https://t.co/QRgeom9Otq

Ignas | DeFi

The old DAO model is in shambles:

Last weekend, hitmonlee.eth paid 5 ETH (~$10k) on Lobby Finance to buy 19.3M ARB (~$6.5m) voting power.

The ROI for the vote was ~ 66 $ETH in total for paying 5 ETH in voting power!

Learn more on Elon Musk's X  https://x.com/DefiIgnas/status/1909554283445387366

I know founders of the Lobby Finance, nice business model 😅

Co-founder of HookRank. Founder of the EthereumUkraine, ETHKyiv. Builder 💻

Head of Blockchain & R&D at IdeaSoft.