Hey everyone,
The ability of steer the direction of Project Catalyst by the Cardano Foundation is yet another example of the Incumbent Advantage phenomenon, which happens to plague all regular democratic systems. It consists of the advantage (and incentive) people/organizations/entities that arrive to power have to use that power to self perpetuate in power.
That is exactly what I stress in my Catalyst proposal and the reason why I think the Decentralized governance problem in Cardano is still far from being solved. We are just a few iterations ahead of the rest of the crypto industry.
Please check my proposal. It aims to attack the problem by adding some tweaks to democracy:
- It creates a systems where budget is distributed after contributions have been submitted and assessed by the community.
- Before each assessment, it randomizes the community in small groups, so that each voice is heard.
- It increases significantly the frequency of assessments to a weekly basis. By the law of large numbers from probability theory, this guarantees that the budget is distributed fairly in the long run.
Please check it out!