The great experiment called The DAO (the first decentralized internet company) began receiving its first proposals, and two weeks later, not a single one has met the quorum.

Exactly two weeks ago The DAO started to receive its first proposals. At the beginning, the proposals submitted can be considered SPAM, an example of this is the proposal 2, which asks The Dao Token Holders (DTH) if they believe in god, this proposal/poll raised 0.83% quorum of the 20% needed.

Shortly after, members of the development community raised a new proposal to the DAO to maintain a temporary moratorium on new proposals until several security and governance issues were fixed. Despite the urgent nature of this request, only 8.94% of the quorum was met.

DAO Proposal

This reflects a great apathy from the DAO Token Holders. There are 23,606 unique Ethereum addresses holding tokens, so in theory, there are less than 23,606 voters.

The proposal with more voting turnout right now is the number 17 which has raised 10.11% of the quorum so far, the proposal will expire in 2 days and is asking the Token holders to raise the contract’s proposal deposit to from 2 ether to 11 to avoid a great number of spam proposals and proposal-graffiti on The DAO.

Explanations for this low voting turnout vary, but some same it’s because of the lack of serious proposals, Slock.it recently submitted its proposal to curators to get whitelisted, but there has been no answer yet. Other say it’s because of the technological barrier, indeed, the process of acquiring The DAO Tokens was simplified thanks to the participation of several exchange platforms like Gatecoin (which recently suffered a hacking incident), Poloniex, Kraken, and others, so it could be argued that the process of buying tokens is much easier than voting the actual proposals.

Other say it’s because of the technological barrier, indeed, the process of acquiring The DAO Tokens was simplified thanks to the participation of several exchange platforms like Gatecoin (which recently suffered a hacking incident), Poloniex, Kraken, and others, so it could be argued that the process of buying tokens is much easier than voting the actual proposals.

Is the community expecting a serious proposal to express their opinion? Or is this low voting turnout going to represent a problem in the near future? Stay tuned.

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Eduardo Gómez is a Computer Science Major from Venezuela, a country with a loyal Bitcoin user base. He discovered Bitcoin in 2012 and now he use it to escape the triple-digit inflation that Venezuela suffers, he is focusing on developing a writing career, and he tries to keep up with the news in FinTech and Blockchain Technologies.