This story was originally published on HackerNoon at:
https://hackernoon.com/educational-byte-what-are-governance-tokens-and-what-can-they-do.
Governance tokens give holders the right to participate in the decision-making process of a decentralized ecosystem. Discover how it works!
Check more stories related to web3 at:
https://hackernoon.com/c/web3.
You can also check exclusive content about
#decentralized-governance,
#governance-token,
#defi,
#token,
#cryptocurrency-adoption,
#oswap,
#obyte,
#good-company, and more.
This story was written by:
@obyte. Learn more about this writer by checking
@obyte's about page,
and for more stories, please visit
hackernoon.com.
Governance tokens are a type of cryptocurrency that gives holders the right to participate in the decision-making process of a decentralized ecosystem. Holders of governance tokens can propose changes or vote on existing proposals related to the project’s rules, upgrades, and overall management. They often come during the initial launch of a crypto protocol or a decentralized application (Dapp)