Arbitrum Foundation wants to fix DAO woes with a new radical proposal

Article

Authors

Aleks Gilbert

Publisher

DL News
DL News

Web URL

https://www.dlnews.com/articles/defi/arbitrum-foundation-wants-to-fix-dao-woes-with-new-proposal/

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Offchain Labs CEO Steven Goldfeder said people shouldn’t confuse decentralisation with direct democracy. After all, ultimate control of Arbitrum blockchain upgrades and revenue would remain with tokenholders, he said. “But the fact that the power stems from the DAO doesn’t mean that the DAO should directly vote on what brand of toilet paper is used at Arbitrum events.”

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The Arbitrum Foundation is a nonprofit that supports the ongoing development of the Arbitrum blockchain. Offchain Labs is the for-profit company that built the blockchain. Both have taken a backseat in DAO affairs. That has caused proposal gridlock, inefficient processes, excessive spending, and a lack of accountability, according to the Foundation.

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Offchain Labs CEO Steven Goldfeder said people shouldn’t confuse decentralisation with direct democracy. After all, ultimate control of Arbitrum blockchain upgrades and revenue would remain with tokenholders, he said.

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