SpiderDAO is a next generation hardware-based DAO governance
model that aims to bring a new standard of fairness
to existing DAO frameworks
SpiderDAO.
SPIDERDAO PURPOSES
A NEW SET OF TOOLS TO BRING ONLINE
PRIVACY TO THE END USER
To do so efficiently and sustainably, SpiderDAO’s team have set a robust new
standard for all DAOs that will withstand the adversity that such a mission implies.
To mitigate the shortcomings of current DAO frameworks, SpiderDAO
leverages a multi-layered governance setup based on hardware and software
tools on top of afair & resilient hardware-based DAO built on Polkadot.
CURRENT ISSUES WITH CONVENTIONAL DAO GOVERNANCE.
Plutocracies
Currently, existing on-chain voting mechanisms have a tendency to descend into plutocracies whereby the wealthy who have the power to accrue more tokens, have the biggest say at the detriment of smaller token holders.
The Rise of Dark DAOs
Existing on-chain voting methods can lead to vote-buying, which has led to the rise of “Dark” DAOs. The foundations of the vulnerability stem from the low barriers to entry for malicious actors (whether individuals or larger entities) to skew the democratic voting process by buying up large amounts of tokens to achieve an unfair share of the voter’s rights and influence the decision making in an unfavourable way.
“Whale” manipulation
“Whales” (very large token holders) can gain an unfair voting advantage which allows them to skew elections in their favour simply by accumulating large amounts of governance tokens
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