Not sure if my above question is clear, but let me try to clarify what I mean. One of the central problems crypto projects have, in regards to protocols that have voting power, is that there are a very select few wallets that hold more than 50% of the coins which completely can wreck fair voting. For instance, Decentraland (MANA) has the top 100 holders collectively owning more than 76% of the tokens: https://cryptorank.io/price/decentraland/holders.
I know people have asked this question in the past, but I wanted to open some room for discussion and thoughts to tackle this problem. I have a couple thoughts:
– is it possible to only allow each wallet to have just one vote, no matter how much coin they own? Now, you can say that someone can just create multiple wallets so wouldn’t that defeat the purpose of it? But let’s go further: What if the only way to be able to buy this token would require some kind of unique digital id that is linked to someone’s driver’s license or SS, so you wouldn’t be able to use another wallet to purchase more votes? If anything, this kinda hits me that maybe that’s the entire purpose of some regulation or guideline in crypto that we need.
– another thought that’s been bothering me: is it ever possible to ban a large organization, such as greyscale, to be able to purchase a certain token? For instance, you know how there are tax brackets for people with x income levels? Is it possible to create a invest bracket for x income levels? And by possible, I guess I’m asking if that would ever work in the real world? Some kind of project that doesn’t allow large corporations to dominate tokens so it gives the mass amount of retail people more potential instead?
Open to hearing other people’s thoughts and have some discussion. I am by no means. a crypto expert, so I am here to learn as well.