🐸VOTE TO EARN/ GOVERNANCE
Basically, a governance token is like the VIP pass to a decentralized network. It gives you the power to vote on proposals that can change how the network operates. Think of it like being a shareholder in a company, where your vote can help shape the direction of the business.
But instead of company decisions, you're voting on things like upgrades to the network or how funds are allocated. And the more tokens you hold, the more voting power you have. It's like the old saying goes, "with great power comes great responsibility".
In a DAO, decisions are made by members who hold governance tokens that give them the right to vote on proposals and participate in the organization's decision-making process. This allows for a more democratic and decentralized approach to governance.
DAOs have a range of potential use cases in the world of cryptocurrency and blockchain technology. They can be used to manage decentralized funds, develop and maintain decentralized applications, and even govern other DAOs. They are often associated with the broader concept of decentralized finance (DeFi), which seeks to create a more open and democratic financial system using blockchain technology.
In addition, holders who take part in the decision making of the project by voting also earn token after every voting rounds.
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