Ethereum co-founder Vitalik Buterin has issued a pointed critique of the current state of Decentralized Autonomous Organizations (DAOs), arguing that existing models are often plagued by inefficiency and a tendency toward plutocracy. Buterin recently called for the crypto community to develop ‘different and better DAOs’ that prioritize effective, decentralized decision-making over simple token-weighted voting.
In Buterin’s view, the standard model of governance—where voting power is directly proportional to the number of tokens held—inherently favors ‘whales’ and centralized financial interests, often resulting in low voter turnout and stifled innovation. He stresses that many DAOs, despite their decentralized branding, suffer from the same issues as traditional centralized organizations, including stagnation and the dominance of a few large actors.
To combat these issues, Buterin champions alternative governance mechanisms designed to measure contribution and expertise rather than just wealth. Among the solutions frequently highlighted is the adoption of Quadratic Voting (QV), which reduces the influence of large capital holders by making additional votes exponentially more expensive. He also advocates for reputation systems and multi-layered governance models.
Buterin has consistently promoted the concept of Soulbound Tokens (SBTs) as a means of establishing persistent, non-transferable decentralized identity and reputation within DAOs. By linking governance rights to demonstrable expertise or contribution history—verified via SBTs—instead of just transferable financial assets, Buterin believes DAOs can achieve truer decentralization and align incentives more effectively with the long-term mission of the project, rather than short-term financial gain.
Source: Ethereum Founder Vitalik Buterin Calls for ‘Different and Better DAOs’
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