Decentralized Autonomous Organization (DAO) provides a decentralized governance solution through blockchain, where decision-making process relies on on-chain voting and follows majority rule. This paper focuses on MakerDAO, and we find five voter coalitions after applying clustering algorithm to voting history. The emergence of a dominant voter coalition is a signal of governance centralization in DAO, and voter coalitions have complicated influence on Maker protocol, which is governed by MakerDAO. This paper presents empirical evidence of multicoalition democracy in DAO and further contributes to the contemporary debate on whether decentralized governance is possible.

翻译：中央集权自治组织(DAO)通过块链提供权力下放的治理解决方案,即决策过程依赖于连锁投票并遵循多数人统治。本文以MakerDAO为重点,在对投票历史应用集群算法后,我们发现五个选民联盟。 主导选民联盟的出现是DAO集中治理的信号,选民联盟对Maker协议产生了复杂的影响,而MakerDAO则管理该协议。 本文提供了DAO多党民主化的经验证据,并进一步推动了当前关于权力下放治理是否可能的辩论。