# kaal:claim:5254152-036

**Claim.** A governance design aimed at democratic balance can still centralize power over time when the token supply is fixed, as recorded for MoonDAO.

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

**Holds when.**

- DAOs with a fixed governance token supply

**Source quote.**

> aims for democratic balance but the fixed token supply could result in centralized power over time (G: 4)

**From.** Wulf A. Kaal, *DAO Market Meta Analysis 2024* (2024), APPENDIX A: DAO Dataset, MoonDAO, page 34

**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.** fixed token supply centralization drift  (family: recentralization-drift)

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

**Keywords.** token-supply, centralization, dao-governance, moondao

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