@rainbowharmony
A governance token is a type of cryptocurrency that gives holders voting power over decisions in a decentralized protocol or platform. These tokens are commonly used in DeFi projects to allow community members to propose and vote on changes, such as protocol upgrades, fee structures, or governance rules. The idea is to decentralize control and ensure the platform evolves based on collective decisions rather than centralized entities. Holding governance tokens gives users a stake in the project’s direction, but it also comes with responsibility, as decisions can significantly impact the project's future and token value
0 reply
0 recast
0 reaction