English (United Kingdom)

https://curated-unify.zendy.io/wp-json/zendy-region/v1/featured_content/oa?rat=en

https://curated-unify.zendy.io/wp-json/zendy-region/v1/highlighted_journal/

Global: Zendy Plus annual

Presents the access of premium content as premium feature

Premium Content

Presents the keyphrase highlighting as premium feature

Keyphrase Highlighting

Presents the summarisation as premium feature

Summarisation

Insights

Presents the pdf analysis as premium feature

PDF Analysis

Presents the zaia usage as premium feature

ZAIA

Global: Zendy Plus monthly

Global: Zendy Tools annual

Global: Zendy Tools monthly

Global: Zendy Free Plan

Decentralized Finance (DeFi) is a prominent application of smart contracts,representing a novel financial paradigm in contrast to centralized finance.While DeFi applications are rapidly emerging on mainstream blockchainplatforms, their quality varies greatly, presenting numerous challenges,particularly in terms of their governance mechanisms. In this paper, we presenta comprehensive study of governance issues in DeFi applications. Drawing uponinsights from industry reports and academic research articles, we develop ataxonomy to categorize these governance issues. We collect and build a datasetof 4,446 audit reports from 17 Web3 security companies, categorizing theirgovernance issues according to our constructed taxonomy. We conducted athorough analysis of governance issues and identified vulnerabilities ingovernance design and implementation, e.g., voting sybil attack and proposalfront-running. Our findings highlight a significant observation: the disparitybetween smart contract code and DeFi whitepapers plays a central role in thesegovernance issues. As an initial step to address the challenges ofcode-whitepaper consistency checks for DeFi applications, we built amachine-learning-based prototype, and validated its performance on eight widelyused DeFi projects, achieving a 56.14% F1 score and a 80% recall. Our studyculminates in providing several key practical implications for various DeFistakeholders, including developers, users, researchers, and regulators, aimingto deepen the understanding of DeFi governance issues and contribute to therobust growth of DeFi systems.

A Comprehensive Study of Governance Issues in Decentralized Finance Applications