Introduction to Governance Tokens Governance tokens have emerged as a revolutionary component of the decentralized finance (DeFi) ecosystem, enabling token holders to influence the future direction of decentralized projects. Unlike traditional financial systems where decisions are made by a centralized authority, governance tokens empower the community to participate in the decision-making process, fostering a more democratic and transparent approach to project management. What Are Governance Tokens? Governance tokens are digital assets that grant their holders voting rights within a decentralized platform or protocol. These tokens enable holders to propose and vote on changes, upgrades, and various aspects of the protocol's operation. Voting Rights : Governance tokens allow holders to vote on proposals related to protocol upgrades, fee structures, and other critical decisions. Decentralized Control : By distributing voting power among a wide range of token holders, governance toke...
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