The main goal of a DAO is to allow everyone to actively participate in operations of the organization. However, most DAOs are struggling to do so, argues Kevin_Linear, co-founder of LinearFinance
is fundamentally meant to be “decentralized,” some of the biggest DAO protocols including Uniswap are not. A lot of the day-to-day activities within DAOs still involve a few core members of the organizations to make major decisions. This raises the question as to whether DAOs are completely decentralized. And, if not, is complete decentralization even possible?
Bringing together community members, they vote on proposals designed to aid future operations of a protocol which are then executed in smart contracts once the proposals have been agreed upon. Under this community collaboration, it’s in the best interests of everyone within a DAO to agree on proposals that favor the protocol due to the incentives. A protocol that attracts more users pushes up the token’s value, which is what token holders want.
Most successful DAOs including Uniswap, MakerDAO, PieDAO, Decred and more have different systems of gatekeeping where proposals go through various stages before being accepted. For example, Uniswap’s governance protocol has multiple stages of execution before any proposal is accepted. Its last stage is a group of elected users that have the power to halt the implementation of any proposals it deems malicious or unnecessary.
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