I really don’t see the point of spending ICP thousands to fully control the DAO. Questions to the community
What do you think is the motivation for doing this?
What would be the motivation of the other participants to vote, knowing that their vote has no value since there is a majority of votes of 1 person?
He wants to show that with enough capital you can control any DAO?
Does it require next DAOs to need a rule that one person controls no more than 50% of all votes?
No idea, at first it did not make sense to me but now that there is a plan to turn it into a game it still doesn’t .
Even if regulations were implemented to limit one individual from controlling more than 50% of the votes, there’s nothing stopping them from creating additional IDs to maintain control over the remaining votes.
The Golden Rule: Whoever Has the Gold Makes the Rules
doesn’t make sense to me either, whoever’s doing it is definitely unhinged
If he wanted, he could put a rule that only neurons that have more than 1k of SNS1 have rewards, or make a rule that allows to unlock the tokens at any time, or change the name, or anything…
He flaunts what he has… Photo sent from the person who is doing this on discord…
Or just bored with the current altcoin bloodbath in crypto over all.
Guess we will see but as you said he can do whatever he wants at this point.
and I think whatever that thing is will involve Tom Cruise
Who knows, we might just end up being pleasantly surprised.
At least we will learn something for sure, specially now that we can play with the SNS in local environment, we can tune it further to avoid things.
SNS has very strict rules on what can be done with proposals. You can’t put such rewards.
No, he can’t. SNSes are upgraded by NNS. They can only do what is allowed with proposals.
I don’t see a bloodbath, that’s how the ‘game’ was designed. No rules were broken, and there are no software exploits involved. He is just playing with an unconventional strategy.
I was talking about the general altcoin market, hence he having nothing else to play with. And also he can create any proposal he wants that will pass.
He’s making a game called Dragginz
We kneel to you our new overlord
Can someone explain to me how owning 1000 SNS1 gives full control of the DAO if the total supply is 9998 SNS1? I don’t understand.
Also, if this is an experimental DAO as it says “Symbolically we propose for the SNS-1 to be an experimental DAO owned and driven by the IC community. At conception, it consists only as a blank canvas for the community to paint the future upon.” Shouldn’t people be trying to “break it” in one way or the other to learn what works and what doesn’t?
I would think the more stuff like this that happens, especially on an experimental DAO framework, the better?
The important thing is voting power vs. total votes. Remembered that tokens that are not in neurons cannot vote. He also has a 100% bonus, so his voting power is 2’106.27
I think the dao is operating as intended. It’s great to see new users and I think it’s going to be very exciting for the Icp ecosystem.
I see. They have the majority of voting power because the actual majority of SNS1 holders don’t want to stake their tokens to participate in voting and everything is working as intended?
Everyone is just wondering what the person is going to do with a DAO that has no utility owned by people who don’t care to stake/vote on it’s governance?
No matter what it is, I’m in!
This is what a proposal can do besides taking the treasury.
It can change these parameters.
Also, just to be sure I’ve checked how much time it will take for a neuron to be eligible to vote = 30days
There are few solutions to this problem.
its not a hostile takeover, it’s an awkward, amicable takeover like when you put your arm around somebody and they sort of freeze and then you take it away and wish you’d never done that in the first place, but it works out