Researchers at Singapore University of Social Sciences recently conducted an in-depth analysis of existing decentralized autonomous organization (DAO) voting schemes. Their study titled “Voting Schemes in DAO Governance” analyzed eight popular voting techniques and assessed their perceived strengths and weaknesses based on five criteria - efficiency, fairness, scalability, robustness and incentivization. The team found that existing voting schemes suffered from certain flaws, and thus decided to suggest an alternate and ‘more efficient’ voting mechanism - combining the best features of all existing voting systems.

Dubbed by the researchers as the ‘holographic consensus’ scheme, it excelled in all criteria except robustness. This system, according to the team, would accelerate conviction voting with a ‘holographic mechanism’. Under this new method, stakeholders could bet tokens against a proposal’s passing or veto, with the proposal being accelerated or slowed according to the outcome. Furthermore, an incentivization paradigm was designed wherein those who bet ‘veto’ would sacrifice their tokens in the event the proposal got consensus among the ‘pass’ voters.

The team claims that their proposed scheme will bring greater efficiency, fairness, scalability and incentivization to DAO governance. Moreover, this will also ensure stakeholders are motivated to submit good proposals which are more likely to pass and get rewarded. However, the researchers do admit that their scheme is not without flaws, and thus further research is needed.



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