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Questions and Answers
What is the purpose of governance tokens in the DeFi world?
What is the purpose of governance tokens in the DeFi world?
- To provide voting rights to holders (correct)
- To provide financial stability
- To provide access to new projects
- To provide liquidity to the market
What is the primary system used to operate DeFi platforms?
What is the primary system used to operate DeFi platforms?
- A DAO (correct)
- A smart contract
- A tokenomic schedule
- Hard forking
What can be used to force a new tokenomic schedule into existence?
What can be used to force a new tokenomic schedule into existence?
- A DAO
- A smart contract
- Governance tokens
- Hard forking (correct)
What is the purpose of hard forking?
What is the purpose of hard forking?
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What is not a purpose of governance tokens?
What is not a purpose of governance tokens?
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What is the primary purpose of a DAO?
What is the primary purpose of a DAO?
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What is not a purpose of hard forking?
What is not a purpose of hard forking?
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What is the primary difference between a DAO and a smart contract?
What is the primary difference between a DAO and a smart contract?
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What is not a purpose of a DAO?
What is not a purpose of a DAO?
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What is not a purpose of hard forking?
What is not a purpose of hard forking?
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Study Notes
- Governance tokens play an important role in the DeFi world, granting holders voting rights to influence the future rules and decisions of a project.
- DeFi platforms rely on DAOs – a governance system that relies on token governance – to operate.
- If a project's governance is poor, hard forking – copying a blockchain's codebase and making non-backward compatible changes – can be used to force a new tokenomic schedule into existence.
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