The Governance of Decentralized Autonomous Organizations: A Study of Contributors' Influence, Networks, and Shifts in Voting Power
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arXiv
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| Hauptverfasser: | , , , , |
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| Format: | Preprint |
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2023
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| _version_ | 1866913739417059328 |
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| author | Kitzler, Stefan Balietti, Stefano Saggese, Pietro Haslhofer, Bernhard Strohmaier, Markus |
| author_facet | Kitzler, Stefan Balietti, Stefano Saggese, Pietro Haslhofer, Bernhard Strohmaier, Markus |
| contents | We present a study analyzing the voting behavior of contributors, or vested users, in Decentralized Autonomous Organizations (DAOs). We evaluate their involvement in decision-making processes, discovering that in at least 7.54% of all DAOs, contributors, on average, held the necessary majority to control governance decisions. Furthermore, contributors have singularly decided at least one proposal in 20.41% of DAOs. Notably, contributors tend to be centrally positioned within the DAO governance ecosystem, suggesting the presence of inner power circles. Additionally, we observed a tendency for shifts in governance token ownership shortly before governance polls take place in 1202 (14.81%) of 8116 evaluated proposals. Our findings highlight the central role of contributors across a spectrum of DAOs, including Decentralized Finance protocols. Our research also offers important empirical insights pertinent to ongoing regulatory activities aimed at increasing transparency to DAO governance frameworks. |
| format | Preprint |
| id |
arxiv_https___arxiv_org_abs_2309_14232 |
| institution | arXiv |
| publishDate | 2023 |
| record_format | arxiv |
| spellingShingle | The Governance of Decentralized Autonomous Organizations: A Study of Contributors' Influence, Networks, and Shifts in Voting Power Kitzler, Stefan Balietti, Stefano Saggese, Pietro Haslhofer, Bernhard Strohmaier, Markus Social and Information Networks Cryptography and Security We present a study analyzing the voting behavior of contributors, or vested users, in Decentralized Autonomous Organizations (DAOs). We evaluate their involvement in decision-making processes, discovering that in at least 7.54% of all DAOs, contributors, on average, held the necessary majority to control governance decisions. Furthermore, contributors have singularly decided at least one proposal in 20.41% of DAOs. Notably, contributors tend to be centrally positioned within the DAO governance ecosystem, suggesting the presence of inner power circles. Additionally, we observed a tendency for shifts in governance token ownership shortly before governance polls take place in 1202 (14.81%) of 8116 evaluated proposals. Our findings highlight the central role of contributors across a spectrum of DAOs, including Decentralized Finance protocols. Our research also offers important empirical insights pertinent to ongoing regulatory activities aimed at increasing transparency to DAO governance frameworks. |
| title | The Governance of Decentralized Autonomous Organizations: A Study of Contributors' Influence, Networks, and Shifts in Voting Power |
| topic | Social and Information Networks Cryptography and Security |
| url | https://arxiv.org/abs/2309.14232 |