The Hidden Shortcomings of (D)AOs -- An Empirical Study of On-Chain Governance. (arXiv:2302.12125v1 [cs.CY])

Decentralized autonomous organizations (DAOs) are a recent innovation in
organizational structures, which are already widely used in the blockchain
ecosystem. We empirically study the on-chain governance systems of 21 DAOs and
open source the live dataset. The DAOs we study are of various size and
activity, and govern a wide range of protocols and services, such as
decentralized exchanges, lending protocols, infrastructure projects and common
goods funding. Our analysis unveils a high concentration of voting rights, a
significant hidden monetary …

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