Decentralized governance in some contexts is both necessary and dangerous, for reasons that I will get into in this post. How can we get the benefits of DeGov while minimizing the risks? I will argue for one key part of the answer: we need to move beyond coin voting as it exists in its present form.

There are two primary types of issues with coin voting that I worry about: (i) inequalities and incentive misalignments even in the absence of attackers, and (ii) outright attacks through various forms of (often obfuscated) vote buying.