Keyword Analysis & Research: governance token

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Frequently Asked Questions

What are governance coins/tokens?

Governance coin/tokens are tokens that developers created in order to allow the coin holders to help shape the future of a protocol. The decisions concerning the projects like; proposing or deciding on new feature proposals and even changing the governance system itself can be influenced by governance token holders.

What is governgovernance token (God)?

Governance tokens give holders the power to influence decisions on the core protocol, the roadmap for the product or feature, recruitment and staff, and changes to the governance criteria. All software requires frameworks in order to be modified or patched.

What is the largest governance token per market cap?

The largest governance token per market cap is currently COMP, the governance token of the money market protocol Compound. The token offers the opportunity for its group of holders to vote on key improvements to Compound. For voting, COMP may also be assigned to others.

Should we use governance tokens for decentralization?

Proponents of systems that use governance tokens believe that they allow for user control, which holds true to the original cryptocurrency ideals of decentralization and democratization. In most cases, organizations who let users control the development of their systems are called decentralized autonomous organizations ( DAOs ).

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