❕❕Is most DAO governance fake? Study of nonsensical DAO activity.

Tens of thousands of wallets making and voting on proposals have zero governance value. What can be done about these nonsensical DAOs?

📌The situation is bad: Top 5 of the most active DAOs includes a lot of mostly unknown DAOs.

➖For example, Iwan DAO had 136 proposals in the past week, all of them about… logging weight.

➖2021eth had 47 proposals… all of them are spam about memecoins, NFT drops, and the like. $PEPE, of course, is front and center.

Not surprisingly, 2021eth has zero tokenholders and nothing in its treasury.

✅If Iwan and 2021eth want to use a Ferrari to drive around a mini-golf course, fine. But this should not count as a DAO for compiling statistical sets of DAO governance. The data we are seeing is littered with nonsensical DAOs.

📖How to fix this? Find out in the full article 👉 here