Analyzing Voting Power in Decentralized Governance: Who controls DAOs?

04/03/2022

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by   Robin Fritsch, et al.

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We empirically study the state of three prominent DAO governance systems on the Ethereum blockchain: Compound, Uniswap and ENS. In particular, we examine how the voting power is distributed in these systems. Using a comprehensive dataset of all governance token holders, delegates, proposals and votes, we analyze who holds the voting rights and how they are used to influence governance decisions.