Recently there have been multiple 51% attacks on various daos within the sns system.
What are some steps the sns launchpad could take to remove the possibility for hostile take overs? We have seen sns-1 go through a takeover and are now watching ICPCC dao being taken over by the same individual.
If no one else is concerned about this then why do we have DAOS when they will ultimately end up being a centralized business instead? Does this run the risk of being unregistered equity markets?
I also find it interesting that this individual calls other “DAOS” centralized garbage but then proceeded to centralize two daos and is making a mockery of community ran projects.
By the way. Adam is manipulating markets while promising to pump collections. This is most definitely going to open up the sns launchpad to regulatory scrutiny
Like any company, 51% votes win, no matter if holder is 1 person or group of people. Usually projects dont give up too much voting power, best is to hold about 40%. As SNS collected money from people, they can buy tokens back from market and increase voting %.
Borovan is a Troll and has lot of money to take over many projects. DAO founders need to protect its projects and must buy some tokens back to keep control.
On what, a coin? Is kickstarter a platform for securities? Whatabout Mcdonalds points? Whatabout gaming tokens? World of Warcraft market manipulation need regulatory scrutiny? CT want the upsides of “securities” but not the “responsibilities”. There’s this thing called the stock market. Its simple… look at USDC and everything I mentioned… call a spade a spade and embed protections into it instead of painting a blanket picture… and quit pretending something is something that it isnt, like shill poop coins as an investment to make quick buck. If you want to invest, invest in investments… quit investing in coins then cry about it.
Open source + blockchain = fork via social consensus… Just fork and migrate, like Doge coin. If theres no source code and you built all that value only to be taken over… it was dead in water to begin with.
I think projects and DAO’s should be allowed to evolve into anything. So one person acquiring 51% voting power could be considered good because that DAO has “evolved”.
You must be missing the part that adams actions are opening up ICP to us regulatory scrutiny as he is removing the “Decentralized” portion of the DAO and offering returns and promises of profits.
His actions are illegal and will do more harm to icp as a whole just so he can troll people.
Look at it from another angle,
51% attacks are an indication that the code is running as intended.
All of this just shows thats “true” DAOs don’t exist yet, especially not on the Internet Computer. SNS DAOs are impressive on a technical level, but they’re primitive versions of how to reach consensus (a startup-on chain is not a DAO)
Also, making all decisions based on token voting power is the dumbest idea Web3 invented.
@codecustard You can’t fork the IC in case you were not aware. There is a license on the source code of the IC.
I find it interesting that @Leadership decided to take major steps to limit the ability for a dao to drain its treasury but, are turning a blind eye to adam taking over and trolling community ran daos.
When will the white glove service for adam end and dfinity stand up for the community over 1 whale.
I’m confused. It’s a decentralized system of governance. How do you expect someone from preventing someone from buying governance tokens and governing?
Seems to me like these “daos” core development teams dropped the ball with having vp and now are reaping what they sewed.
Whatabout the appstore and steam? People dump their money into them. Guess we should regulate them as well? Hype up video games and movies and restaurants only to be “scammed” by a crappy product.
Its an easy fix… write disclaimer that they’re not investment and promise no returns… It’s a coin that you can buy to vote to push code. Nothing more, nothing less.
You seem to be missing the point here. Good luck with your brain power while trying to figure out why adams actions are negative for the icp as a whole.
You cant fork IC, probably why people don’t wanna use it… but Im talking about SNS projects… What difference is facebook clone without being able to fork? The point of crypto facebook is forking and making a new island.
I am asking dfinity to find ways to prevent you from hostile takeovers the same way they prevent daos from fully owning and controlling their own treasuries.
coin? Is kickstarter a platform for securities? Whatabout Mcdonalds points? Whatabout gaming tokens? World of Warcraft market manipulation need regulatory scrutiny? CT want the upsides of “securities” but not the “responsibilities”. There’s this thing called the stock market. Its simple… look at USDC and everything I mentioned… call a spade a spade and embed protections into it instead of painting a blanket picture… and quit pretending something is something that it isnt, like shill poop coins as an investment to make quick buck. If you want to invest, invest in investments… quit investing in 
. People still having difficulty figuring out the difference between Pizzahut rewards and gold certificates, or digital beanie baby collections… Whatabout sneakers and Pokémon cards? Should we be worried about that as well?