Is UBI token still sybil secure? I have read there have been governance issues but can anyone tell me if the ubi token has been farmed by bad actors? is a buy and burn of ubi now donating money to bad actors? Thanks
@Ludoviko could you help on this one? A saw you mention some one was creating fake accounts to gain voting power in the poh dao.
Hey @Surfaccountant! On paper, UBI token distribution is still sybil secure. What’s been happening is a weird sequence of events in the delegations of Proof of Humanity where around 400+ ethereum wallets were created, then while funded by the same account, they delegate the voting power to one or two persons related to each other and after all that, real people from what it looks a remote and isolated part of Myanmar began to become registered. This is to amass voting power in PoH DAO while the delegation power was 1 to 1, luckily, the delegation power now is quadratic so while that holds, the PoH protocol is safe. Open Proof of Humanity will hold this quadratic delegation policy, others might eliminate this an they will become more prone to capture by malicious actors.
The accrued value from these accounts will not impact governance, since voting power in UBI DAO is also quadratic.
1 Like