X @Ignas | DeFi

Most DAOs are run by three groups:1. core team/foundation2. professional delegates3. token whalesProfessional delegates exist because 1) most token holders ignore governance, 2) 95% of votes are "upgrade to v4.2.1," and 3) someone has to get paid to care.This setup was meant to prevent attacks like Compound's in 2024, where a whale bought tokens and voted to drain $24M in $COMP tokens because only 57 addresses voted.No one cared to vote.This tri-alliance has multiple flaws from Vitalik mentioned vulnerabili ...