2023/02/23 by Feichtinger, Rainer, Fritsch, Robin, Vonlanthen, Yann +1 · 4 citations
#Computers and Society (cs.CY) #Cryptography and Security (cs.CR) #FOS: Computer and information sciences
paper · doi:10.48550/arxiv.2302.12125
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 costs of on-chain governance systems, as well as a remarkably high amount of pointless governance activity.