Podcast
Questions and Answers
What is the main purpose of governance tokens?
What is the main purpose of governance tokens?
- To act as a store of value
- To allow holders to vote on future decisions (correct)
- To provide liquidity to the DeFi platform
- To facilitate the hard forking of a blockchain
What is the role of a DAO in the DeFi world?
What is the role of a DAO in the DeFi world?
- To provide liquidity to the DeFi platform
- To facilitate the hard forking of a blockchain
- To act as a store of value
- To act as a governance system (correct)
What is the purpose of hard forking a blockchain?
What is the purpose of hard forking a blockchain?
- To provide liquidity to the DeFi platform
- To act as a store of value
- To allow holders to vote on future decisions
- To force a new tokenomic schedule into existence (correct)
What is the primary benefit of token governance?
What is the primary benefit of token governance?
What is the most effective way to force a new tokenomic schedule into existence?
What is the most effective way to force a new tokenomic schedule into existence?
What kind of system is a DAO?
What kind of system is a DAO?
How can token holders influence the future of a project?
How can token holders influence the future of a project?
What is the primary purpose of a governance token?
What is the primary purpose of a governance token?
What is the best way to ensure a project's governance is successful?
What is the best way to ensure a project's governance is successful?
What is the most effective way to implement a new tokenomic schedule?
What is the most effective way to implement a new tokenomic schedule?
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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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