Tokens Matter: How to Win Votes and Influence DAOs

Research output: Chapter in Book/Report/Conference proceeding › Article in proceedings › Research › peer-review

Standard

Tokens Matter : How to Win Votes and Influence DAOs. / Jensen, Johannes Rude; Schirrmacher, Nina-Birte ; Avital, Michel ; Ross, Omry.

Proceedings of the 44th International Conference on Information Systems (ICIS 2023): Rising like a Phoenix: Emerging from the Pandemic and Reshaping Human Endeavors with Digital Technologies. Association for Information Systems, 2023. 1794.

Research output: Chapter in Book/Report/Conference proceeding › Article in proceedings › Research › peer-review

Harvard

Jensen, JR, Schirrmacher, N-B, Avital, M & Ross, O 2023, Tokens Matter: How to Win Votes and Influence DAOs. in Proceedings of the 44th International Conference on Information Systems (ICIS 2023): Rising like a Phoenix: Emerging from the Pandemic and Reshaping Human Endeavors with Digital Technologies., 1794, Association for Information Systems, 44rd International Conference on Information Systems, Hyderabad, India, 10/12/2023.

APA

Jensen, J. R., Schirrmacher, N-B., Avital, M., & Ross, O. (2023). Tokens Matter: How to Win Votes and Influence DAOs. In Proceedings of the 44th International Conference on Information Systems (ICIS 2023): Rising like a Phoenix: Emerging from the Pandemic and Reshaping Human Endeavors with Digital Technologies [1794] Association for Information Systems.

Vancouver

Jensen JR, Schirrmacher N-B, Avital M, Ross O. Tokens Matter: How to Win Votes and Influence DAOs. In Proceedings of the 44th International Conference on Information Systems (ICIS 2023): Rising like a Phoenix: Emerging from the Pandemic and Reshaping Human Endeavors with Digital Technologies. Association for Information Systems. 2023. 1794

Author

Jensen, Johannes Rude ; Schirrmacher, Nina-Birte ; Avital, Michel ; Ross, Omry. / Tokens Matter : How to Win Votes and Influence DAOs. Proceedings of the 44th International Conference on Information Systems (ICIS 2023): Rising like a Phoenix: Emerging from the Pandemic and Reshaping Human Endeavors with Digital Technologies. Association for Information Systems, 2023.

Bibtex

@inproceedings{7980245f49874ef8b7fbc7f744407df6,
title = "Tokens Matter: How to Win Votes and Influence DAOs",
abstract = "In the span of just a few years, decentralized autonomous organizations (DAOs) have grown into a high-value form of organization. A growing body of IS literature examines the decentralized, transparent, and equitable design of these organizations. DAO governance is commonly mediated using {\textquoteleft}governance tokens{\textquoteright} in a one-token-one-vote system. However, the inconspicuous role of tokens for DAO governance is rarely investigated. We present preliminary findings from a netnographic study of controversial decision-making processes in two large DAOs. Our cases reveal how top holders of tokens leverage their favorable position to enact unpopular decisions unilaterally. The findings indicate a discrepancy between the espoused values and enacted practices of DAO governance, as economic capital rather than social capital investment becomes the primary determinant of voting power. We examine emerging alternative voting systems and offer a framework for parsing these new initiatives. Contributions to the literature and future work are discussed.",
author = "Jensen, {Johannes Rude} and Nina-Birte Schirrmacher and Michel Avital and Omry Ross",
year = "2023",
language = "English",
booktitle = "Proceedings of the 44th International Conference on Information Systems (ICIS 2023)",
publisher = "Association for Information Systems",
address = "United States",
note = "44rd International Conference on Information Systems ; Conference date: 10-12-2023 Through 13-12-2023",

}

RIS

TY - GEN

T1 - Tokens Matter

T2 - 44rd International Conference on Information Systems

AU - Jensen, Johannes Rude

AU - Schirrmacher, Nina-Birte

AU - Avital, Michel

AU - Ross, Omry

PY - 2023

Y1 - 2023

N2 - In the span of just a few years, decentralized autonomous organizations (DAOs) have grown into a high-value form of organization. A growing body of IS literature examines the decentralized, transparent, and equitable design of these organizations. DAO governance is commonly mediated using ‘governance tokens’ in a one-token-one-vote system. However, the inconspicuous role of tokens for DAO governance is rarely investigated. We present preliminary findings from a netnographic study of controversial decision-making processes in two large DAOs. Our cases reveal how top holders of tokens leverage their favorable position to enact unpopular decisions unilaterally. The findings indicate a discrepancy between the espoused values and enacted practices of DAO governance, as economic capital rather than social capital investment becomes the primary determinant of voting power. We examine emerging alternative voting systems and offer a framework for parsing these new initiatives. Contributions to the literature and future work are discussed.

AB - In the span of just a few years, decentralized autonomous organizations (DAOs) have grown into a high-value form of organization. A growing body of IS literature examines the decentralized, transparent, and equitable design of these organizations. DAO governance is commonly mediated using ‘governance tokens’ in a one-token-one-vote system. However, the inconspicuous role of tokens for DAO governance is rarely investigated. We present preliminary findings from a netnographic study of controversial decision-making processes in two large DAOs. Our cases reveal how top holders of tokens leverage their favorable position to enact unpopular decisions unilaterally. The findings indicate a discrepancy between the espoused values and enacted practices of DAO governance, as economic capital rather than social capital investment becomes the primary determinant of voting power. We examine emerging alternative voting systems and offer a framework for parsing these new initiatives. Contributions to the literature and future work are discussed.

M3 - Article in proceedings

BT - Proceedings of the 44th International Conference on Information Systems (ICIS 2023)

PB - Association for Information Systems

Y2 - 10 December 2023 through 13 December 2023

ER -

ID: 384346245