# kaal:claim:5254152-038

**Claim.** Reliance on fungible, publicly tradable governance tokens undermines a protocol's resilience by exposing it to risks such as 51 percent attacks, as scored for Push Protocol.

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

**Holds when.**

- DAOs whose governance tokens trade on open markets

**Source quote.**

> Its resilience is undermined by the fungible, publicly tradable $PUSH tokens, which expose it to risks such as 51% attacks (A: 2).

**From.** Wulf A. Kaal, *DAO Market Meta Analysis 2024* (2024), APPENDIX A: DAO Dataset, Push Protocol, page 41

**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.** tradable token resilience erosion  (family: regulatory-lag)

**Topics.** governance-design, tokenomics, consensus-and-security

**Keywords.** governance-tokens, 51-percent-attack, attack-resistance, push-protocol

**Related claims.**

- restates: https://wulfkaal.github.io/claims/4529715-036
- extends: https://wulfkaal.github.io/claims/4529715-030
- supports: https://wulfkaal.github.io/claims/4529715-037
- specializes: https://wulfkaal.github.io/claims/3125827-014

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