DAOs, Decentralized Governance, and Vote Buying. An Experimental Study.

Vanessa Villanueva Collao (European University Institute)

Abstract

This project explores the participation of retail investors, or small cryptoasset holders, in decentralized autonomous organizations (DAOs) and how they perceive cryptoassets, primarily as a source of yield rather than a means for decentralized governance or control, affecting the exercise of governance rights. This project seeks to understand how separating cryptoasset holders’ economic rights from voting rights could encourage more active involvement in the organization, thereby mitigating the collective action problem prevalent among organizations in blockchain and beyond. Through the conduction of an online experiment, this study examines assumptions related to passive investment and coordination costs among small cryptoasset holders.

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