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Governance Intelligence
The Problems With Token-Weighted Voting: Plutocracy, Apathy, and How DAOs Are Fixing Governance
Token-weighted voting is the default governance mechanism for DAOs controlling billions of dollars in treasury assets. Its problems — plutocracy, chronic voter apathy, governance attacks, and delegate cartel formation — are well-documented and poorly solved. This analysis surveys the data on what is broken and the mechanisms being deployed to fix it.