No wallet-balance-derived voting rule succeeds against Sybil attacks on permissionless blockchains; concave rules yield asymptotically linear power and empirical amplification reaches thousands-fold.
arXiv preprint arXiv:2407.10945 , year =
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Only dictatorships are self-maintaining under i.i.d. unbiased beliefs with arbitrary tie-breaking, while rules with minimal winning coalitions of size at most 2 are stable under pessimistic beliefs and status-quo tie-breaking.
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Concave is the New Linear: The Impossibility of Anti-Plutocratic DAO Governance
No wallet-balance-derived voting rule succeeds against Sybil attacks on permissionless blockchains; concave rules yield asymptotically linear power and empirical amplification reaches thousands-fold.