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60% of the voting rights are controlled by 18 wallets, and a new governance token is proposed to be created for voting

February 18, 2023
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Metaverse platform Decentraland released a January 2023 community update, which pointed out that there is a problem with the distribution of voting rights in Decentraland DAO. Among the current 85.5 million active voting rights, 60% of voting rights are controlled by 18 wallets.

Therefore, Decentraland DAO hopes to encourage voting participation around incentives, including the proposal to launch a tokenized voting rights strategy, creating a new governance token separate from MANA for voting.

It is reported that creating voting tokens can provide Decentraland DAO with greater flexibility in token economics, enabling it to better manage incentives and prevent bad behavior, and by separating voting tokens from existing tokens To improve security, thereby reducing the risk of the voting process being manipulated by “malicious actors”. However, some community members pointed out that a comprehensive reform of the DAO’s underlying token economic structure may be too complicated, and relevant proposals are still under discussion.

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