BIP 33: Phase 1 of Decentralizing Badger DAO

My question wasn’t meant as an insult. It was sincere.

Thank you @cryptomooniac. I’m surprised I didn’t see any answers or discussion too. Multisig is quite the beast and a full understanding of risks is paramount to a properly architected system. Distributing keys and the amount of key holders is only one very small detail when considering an implementation.

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Thank you for your input @chrisblec @cryptomooniac . $Badger DAO is just starting and I’m glad everyone is having these discussions now. It’s good to have opposing views as it allows for improvement. We shall continue to work collaboratively without personal bias and judgment for the benefit of our $BADGER family, its users, and continue innovating and leading the DeFi space.


Great idea and this will actually help to create better trust in the project

Honestly given that I am a token holder and member of a number of DAO’s, Maker, /r/Ethtrader, 1Hive and now Badger etc. one really has to wonder what ‘decentralization’ means when whales (in every one of the above examples) literally 5-20 people have enough voting power to drive governance.

I see nothing different here at Badger. So I think we have to get past this idea of ‘full decentralization’ at least in the above context and work on secure centralization. What features do we need to put into place so no single actor can control the system. Frankly the fact that one can sybil this process one person could look like 5-20 and control everything. I don’t know any way out of this other than some form of Identity checks. As one who uses pseudonyms a lot I understand the desire for anonymity but when it comes to strong checks on control is where some of this stuff breaks down.

There is nothing magical about tokenomics, distribution etc. that I believe inherently solves this problem and would love to see some real discussion around this issue lead to actionable results.

@chrisblec appreciate the comments but having my own issues with ‘form of them’ I would encourage some sensitivity in presentation. :wink: BTW: Based on the above I pretty much agree with most of your criticisms. One thing I try to do when I have a criticism is to have at least one possible solution. Honestly in the above I am coming up completely blank.

This a great step toward a living decentralized entity, exposure to bitcoin on ethereum