⁉️ The European Central Bank doubts the decentralization of DAO
🇪🇺 The format of decentralized autonomous organizations (DAO) allows them to remain outside the regulation of MiCA; however, the ECB's working paper concluded that the largest DAOs have high concentration and hidden governance.
Although the governance tokens of the largest DAOs, including Aave, MakerDAO, Ampleforth, and Uniswap, are distributed across tens of thousands of addresses, the 100 largest holders control over 80% of the supply in each protocol. And about a third of the largest voters cannot be publicly identified.
➡️ The working paper is not an official position of the ECB but may influence regulatory measures in the future.
AAVE
95.9
-2.53%
UNI
3.426
-0.20%