Stable and presumptively optimal static or constitutional rules for DAO governance typically enable gaming and arbitrage opportunities, because rational opportunistic parties will circumvent complex static rules to increase their share of power and profit.
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Stable and presumptively optimal static and/or constitutional rules for DAO governance therefore typically enable gaming and arbitrage opportunities.
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Wulf A. Kaal, Decentralized Autonomous Organizations – Internal Governance and External Legal Design (2020), IV.1.a Dynamic Elements, p. 35 https://ssrn.com/abstract=3652481 · source PDF
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Wulf A. Kaal, Decentralized Autonomous Organizations – Internal Governance and External Legal Design (2020). SSRN: https://ssrn.com/abstract=3652481
extended_bykaal:claim:3799320-025 In any open and democratic system, naturally opportunistic rational parties will attempt to circumvent and gam...
extendskaal:claim:3441904-035 Static complex sets of DAO rules inevitably produce corruptive opportunistic gaming and arbitrage behavior, so...
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