Demystifying the DAO Governance Process
arxiv(2024)
摘要
Decentralized Autonomous Organization (DAO) becomes a popular governance
solution for decentralized applications (dApps) to achieve decentralized
governance. In the DAO, no single entity can arbitrarily control the dApps
without approval from the majority of members. However, despite its advantages,
DAO has also been targeted by several attacks, leading to the loss of millions
of dollars. In this paper, we first provided an overview of the DAO governance
process within the blockchain. Next, we identified the issues within three
components of governance process: Governance Contract, Documentation, and
Proposal. Each of these components is vulnerable to issues that could
potentially result in substantial financial losses. Then we developed automated
methods to detected above issues. To investigate the issues within the existing
DAO ecosystem, we constructed a state-of-the-art dataset that includes 16,427
DAOs, 183 documentation, and 122,307 proposals across 9 different blockchains.
Our analysis reveals that a majority of DAO developers and members have not
given sufficient attention to these issues, especially in the area of proposal.
The result shows that over 60
consistent description and code for their members, highlighting a significant
gap in ensuring transparency within the DAO governance process. For a better
DAO governance ecosystem, DAO developers and members can utilize the methods to
identify and address issues within governance process.
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