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The Vulnerable Nature of Decentralized Governance in DeFi. (arXiv:2308.04267v1 [cs.CR])
cs.CR updates on arXiv.org arxiv.org
Decentralized Finance (DeFi) platforms are often governed by Decentralized
Autonomous Organizations (DAOs) which are implemented via governance protocols.
Governance tokens are distributed to users of the platform, granting them
voting rights in the platform's governance protocol. Many DeFi platforms have
already been subject to attacks resulting in the loss of millions of dollars in
user funds.
In this paper we show that governance tokens are often not used as intended
and may be harmful to the security of DeFi platforms. …
attacks autonomous daos decentralized defi distributed finance governance loss nature organizations platform platforms protocol protocols rights tokens voting vulnerable