Governance tokens are pointless. Only meant to benefit the DAO and founders. Debate.

With what happened today in the crypto space i am completely disheartened. Arbitrum A popular layer 2 Ethereum scaling solution DAO bypassed its own vesting rules for the token, made a governance proposal to unlock 750m tokens, majority voted against it but they had already utilised 50m of them even before the vote ended.

What is the point of monotonous governance tokens who serve no purpose except voting? How does voting work when not every vote is worth same? Even if a community votes against something a whale owning large amounts can easily change the outcome. Its like democracy but worse, what if a billionaire’s vote value is 100000th times the value of a common man? Would that work in electing leaders ? Nope. Then why governance in DAOs is a thing as it is now. Is there any solution for this problem?

I think MOONs are much different than these monotonous governance tokens, they have a reward system built around it for the contributors in r/cc community. It ignited discussions influences people’s decision based on debates and their outcome. but even Moons have this concentration of power issue.

What can be the solution? Are there already existing DAOs that have solved the concentration of power problem?