I have analyzed almost all decent projects (mid-cap to high-cap alts) with its token that function as DAO. The name DAO is basically decentralized autonomous organization but I can assure you that none of them work as intended. Here’s why
Most web3 projects, as we know, are controlled by the same usual suspects, the big VCs that also control the money-printing of stablecoins and the top exchanges. So think about it. If they always control over 50% of the web3 projects (and they always do since they get in at pre-seed stage), what’s even the point of participating in governance? Imagine in real life election where some big company can keep voting million of times for one presidential candidate while average joe like you and me can only vote once, people will be outraged. and yet in crypto DAO processes, this is just something normal.