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Such a paradigm is known to be prone to power distortions: a few users possessing large stakes may completely control decision making, even without owning the totality of the stakes. We study this phenomenon through the lens of computational social choice, focusing on the extent of power imbalances in stake-weighted voting when power is quantified using the Penrose-Banzhaf power index. Our work presents both analytical and empirical contributions. Analytically, we demonstrate that while a perfect alignment between power and relative stake ownership is generally unattainable, it can be approximated in expectation under specific conditions. Empirically, using data from a real-world on-chain governance system (Project Catalyst), we provide a more fine-grained understanding of the power imbalances that are likely to occur in current","title":"Swimming with Whales: Analysis of Power Imbalances in Stake-Weighted Governance","url":"https://arxiv.org/abs/2605.19264","vendor":"arxiv_cs_ai"},"summary":"arXiv:2605.19264v1 Announce Type: new \nAbstract: Voting methods weighted by stakes are the fundamental governance paradigm in Proof-of-Stake (PoS) blockchains. Such a paradigm is known to be prone to power distortions: a few users possessing large stakes may completely control decision making, even without owning the totality of the stakes. We study this phenomenon through the lens of computational social choice, focusing on the extent of power imbalances in stake-weighted voting when power is quantified using the Penrose-Banzhaf power index. Our work presents both analytical and empirical contributions. 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Empirically, using data from a real-world on-chain governance system (Project Catalyst), we provide a more fine-grained understanding of the power imbalances that are likely to occur in current","title":"Swimming with Whales: Analysis of Power Imbalances in Stake-Weighted Governance","vendor":"arxiv_cs_ai"},"confidence":{"method":"deterministic"},"decision":"POSITIVE","issued_at":"2026-05-20T04:43:44Z","notes":"Spider vendor_press (news) news.vendor_press.v1","object":{"captured_by":"crovia.spider.vendor_press","primary_source_url":"https://arxiv.org/abs/2605.19264"},"predecessors":[],"schema":"crovia.axiom.v1","signature":"ed25519:eb61acc91d4ac4fbcb8780f21bf348d2cd4286375e443aabacfa104d86832e593795f97eeb865de403a045417dfd651ad031d4041438eec7a298d35b8cba3f0b","signer":"crovia.substrate","subject":{"observed_at":"2026-05-20T04:43:44Z","source_collector":"spider:vendor_press","target_id":"https://arxiv.org/abs/2605.19264"},"tsa":{"authority":"crovia.substrate.bootstrap","rfc3161_token":"{\"kind\":\"crovia.bootstrap.tsa\",\"source_jsonl\":\"/opt/crovia/spider/data/news/vendor_press_v1.jsonl\",\"source_seal_merkle_root\":\"spider_vendor_press_v1\",\"upgrade_path\":\"Sessione H \\u2014 OpenTimestamps weekly anchor\"}"},"zk_mode":"clear","zk_proof":null},"ledger":{"leaf_hash":"42d0bc2a15130d81ea7f23effc5286ec923d3b53206b8b5fd3daef68ed2cb5c7","leaf_index":144916,"ledger_path":"/opt/crovia/substrate/axiom_ledger.jsonl"},"merkle_proof":{"hash_alg":"sha256","leaf_prefix":"0x00","node_prefix":"0x01","odd_leaf_rule":"duplicate_last","path":[{"sibling":"350feaf21758ccebec8e7f7d68d67119b7e0cd36182578528f0c6a74a5bc85b4","side":"right"},{"sibling":"68283df48b4e3b685cbf084edc3d2d71fa1b546931a497c1dd59fb7d20b40ed4","side":"right"},{"sibling":"c9e2fbbbe5f6856477f506a6c88f78df07bda5069f5925cc051be72ffdc7c3dd","side":"left"},{"sibling":"2ac8957a211486a1de6feba35307d18c91a3cd783350fe8571f32800d9a4c701","side":"right"},{"sibling":"1181d922aaa8c930c450e1cd1cff1de979eca98673f798ab8afa241377720da4","side":"left"},{"sibling":"6ab93aeefd528fe816a142d93a792d8099e188efbf784aaf1d719618e2cdd8b8","side":"right"},{"sibling":"9dfea8c2063a3b5da665f6432f8c0c081d0ea279aadf5f27f222e6b1ef5cc4eb","side":"right"},{"sibling":"5c26ec91378ced2564bd7218068bacda3ade3a0517e2dc081e9d169a340044ba","side":"right"},{"sibling":"9db04d2181fb869f16a5baf7dcfe999cc93a7e9beef8493d0cc71f57470fe5e1","side":"right"},{"sibling":"1526885f19d1fadf6955cf519dbc4e62d593a4bba99d741e8c301740a7068233","side":"left"},{"sibling":"e3a7d5c07f161682d61bd453ffc02ecdf87cfeda70f986d6650017f9d2d6b265","side":"left"},{"sibling":"edbc49f08e5b92291934c05c9e6efd270a6b0698d8d2fa474006366027dfe098","side":"right"},{"sibling":"3e4df6e7457cecbf36f350375e72dcab336a3984422e4c406ef809e4e2944e96","side":"left"},{"sibling":"8f4c0fbe56b6c010fbb8c782ebcd478079bb3f991d8704e2534209a075d9163c","side":"left"},{"sibling":"be08fedc4e72a6fb56606f66812fae7317e09690b9acb18385f4ab117a981238","side":"right"},{"sibling":"0534329a7475dc9df51998c83c16892126679dade0fa34182f21e869599386c7","side":"right"},{"sibling":"2d24720928ead0e7670650eb55f558c4f20e4c18df376f47ba72cfa8cf0ed344","side":"right"},{"sibling":"d841ad93efda0869e5eb97678f348f03f5caab4353e05ff4bf18f47fb945b822","side":"left"}]},"schema":"crovia.axiom_proof.v1","seal":{"first_collector_run_id":"","first_receipt_hash":"","jsonl_path":"/opt/crovia/substrate/axiom_ledger.jsonl","key_id":"430895f101d38164","last_collector_run_id":"","last_receipt_hash":"","leaf_count":147301,"merkle_root":"08903d7159c3b38eeeeafc09eab15139ea417f1d94f02f1fbc87296b37db840a","public_key_hex":"cf742e26f75669dc673cb5c0786a1ae23ae8ca19c347317192ce40c28a7ff25c","run_id":"hourly_json_retrofit_20260521T183701Z","schema":"crovia.seal.v1","seal_family_version":"crovia-seal-family/1","seal_kind":"substrate_batch","sealed_at":"2026-05-21T18:37:33Z","sig_algorithm":"ed25519","signature":"905f2924632dfa2970c8690285f5b5d4a1d891d0e0ef1cbc404ebec2fd937215ac768e16f0a9f28b18977a55ae0bfd226db6833ae7ef588729054117d2da7303","signer_version":"1.1.0"},"trust_root":{"key_id":"430895f101d38164","public_key_hex":"cf742e26f75669dc673cb5c0786a1ae23ae8ca19c347317192ce40c28a7ff25c","signature_algorithm":"ed25519","url":"/registry/canon/TRUST_ROOT.md"},"verifier":{"spec":"/registry/canon/AXIOM_RECEIPT_v1.md","url":"/v/axm_d7a0590e8e761eb1c52e261e294a04334f268bcd0fab7516706f54ebb0dbae15"}}