Dossier
UMA protocol
Coverage of UMA protocol in the Nexus archive.
- Crypto’s most controversial governance idea is making a comeback
Crypto investors are reevaluating decentralized autonomous organizations (DAOs) after past failures highlighted issues with token-based governance. Critics argue majority token ownership undermines true democracy, citing examples like Polymarket and UMA protocol where a few large holders sway decisions. Despite skepticism, some founders remain optimistic about improving DAOs through new iterations.