Decentraland: 60% of the voting power is controlled by 18 wallets, and a new governance token is proposed for voting

ChainCatcher news, the metaverse platform Decentraland released its January 2023 community update, which pointed out issues with the distribution of voting rights in the Decentraland DAO. Currently, 60% of the voting power is controlled by 18 wallets out of 85.5 million active voting rights. Therefore, the Decentraland DAO hopes to encourage voting participation through incentives, including a proposal to introduce a tokenized voting rights strategy and create a new governance token separate from MANA for voting.

It is reported that creating a voting token could provide greater flexibility in token economics for the Decentraland DAO, allowing it to better manage incentives and prevent bad behavior. Additionally, separating the voting token from existing tokens could enhance security, thereby reducing the risk of the voting process being manipulated by "malicious actors."

However, some community members have pointed out that a comprehensive reform of the underlying token economic structure of the DAO may be too complex, and relevant proposals are still under discussion. (source link)