Dissecting the DAO: Web3 Ownership is Surprisingly Concentrated

Essentially, DAOs are owned by the people who create value in them. This is a radical notion and one with real consequence; by expanding beyond the traditional notion of who should “own” an organization, DAOs empower a broad ecosystem to take action and create value on its behalf.

This could occur in many different ways: For example, all organizational decisions could be determined by tokenholder voting, but token ownership and voting turnout could be widely dispersed among many “minnows” (persons each holding a small % of total token supply/total voting power). Alternatively, different types of decisions could be delegated ... See more

In today's crypto ecosystems, token-based membership determines key considerations such as resource allocation, on-chain incentives, and off-chain decision-making. While a blockchain's censorship resistance may seem like the solution to a world of gatekeepers, in reality, pay-to-play limits access in other ways. Protocols may be owned by thousands,... See more