A recent incident in Arbitrum DAO has drawn attention to vote manipulation, as a user spent 5 ETH to purchase voting power worth 6.5 million ARB. This raises concerns over the safety of decentralized governance.
Incident Circumstances
User hitmonlee.eth acquired 19.5 million ARB votes for 5 ETH through Lobby Finance. This allowed them to outpace major delegates like L2Beat and Wintermute and support crypto developer Joseph Schiarizzi for a seat on the Arbitrum oversight committee.
Community Reaction of Arbitrum
The Arbitrum community is debating whether to allow vote buying, ban it, or penalize those who buy votes. Opinions are divided, with many believing this situation highlights a deeper issue.
Lobby Finance's Position
Lobby Finance defends its strategy, asserting that its operation is transparent and the bidding process is open to all. They maintain that enhancing DAO governance's appeal justifies the existing risks.
The vote buying incident in Arbitrum DAO raises important questions about the security of decentralized governance and the need for procedural revisions. The discussion continues.
