DAO governance promises decentralized decision-making. Thousands of token holders, hundreds of delegates, collective intelligence in action. We just analyzed every vote cast by 4,279 delegates across 24 DAOs. The headline: more than 75% score below 5 out of 10 on vote quality. They're voting. That's the problem — participation isn't governance.Participation Rate Answers the Wrong QuestionEvery DAO dashboard tracks who showed up. It doesn't track how well they governed. A delegate who reads ev...

DAO governance promises decentralized decision-making. Thousands of token holders, hundreds of delegates, collective intelligence in action. We just analyzed every vote cast by 4,279 delegates across 24 DAOs. The headline: more than 75% score below 5 out of 10 on vote quality. They're voting. That's the problem — participation isn't governance.Participation Rate Answers the Wrong QuestionEvery DAO dashboard tracks who showed up. It doesn't track how well they governed. A delegate who reads ev...