# kaal:claim:5254152-031

**Claim.** Procedural governance safeguards such as two step voting with temperature checks do not produce genuine decentralization when the governance token remains purchasable; in MakerDAO's case the purchasable token renders true decentralization nominal.

**Type.** failure  **Support.** evidenced

**Holds when.**

- DAOs combining multi stage voting with freely purchasable governance tokens

**Source quote.**

> The governance process includes 2-step voting with temperature checks, but the purchasable governance token makes true decentralization nominal (G: 4).

**From.** Wulf A. Kaal, *DAO Market Meta Analysis 2024* (2024), APPENDIX A: DAO Dataset, Maker DAO, page 39

**Cite as.** Wulf A. Kaal, DAO Market Meta Analysis 2024 (2024). SSRN: https://ssrn.com/abstract=5254152

**Verify.** sha256 of source PDF `bb2052d809a4615f0f3e2526ba6416293c40d00260149ba4fe6f38addf052796` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20-%202024%20-%20DAO%20Market%20Meta%20Analysis%202024.pdf

**Failure mode.** nominal decentralization  (family: recentralization-drift)

**Topics.** decentralization, governance-design, tokenomics

**Keywords.** makerdao, nominal-decentralization, governance-tokens, voting-design

**Canonical form.** This markdown file is the canonical hashed representation of the claim. Its sha256 is the content hash used for attestation.