>It is why I think we need to explore new ways of democratic control and decision making! Through technology there could be different solutions to the problem of representation.

Example of the latest crypto scam that I read about yesterday:

"...a fairly simple [governance] attack:

1. Propose a piece of code to the protocol that says "send the entire treasury to my address A" 2. Buy a bunch of equity tokens and vote the change in 3. Send the entire treasury to your address A"

Step 2 is possible because of flash loans.

"Literally in a single transaction, the attacker buys a ton of governance tokens, injects malicious code into the protocol through governance voting, then uses the malicious code to steal a bunch of money. Web3 is insane"

https://twitter.com/AnthonyLeeZhang/status/15157022763961303...