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What is Governance Token

Chapter 3
Decentralized Finance and Tokenization in FinTech
A governance token is a digital asset or cryptocurrency that grants holders certain rights within a decentralized ecosystem or protocol.
Published in Chapter:
Community-Driven Finance Unveiling the Dynamics of DeFi Governance
Munir Ahmad (Survey of Pakistan, Pakistan)
Copyright: © 2024 |Pages: 16
DOI: 10.4018/979-8-3693-3346-4.ch003
Abstract
The chapter delves into the evolving landscape of decentralized finance (DeFi) governance, highlighting both opportunities and challenges. It emphasizes the role of community-driven decision-making and governance tokens in enhancing transparency and accountability. While innovative governance mechanisms hold promise, challenges such as voter apathy and whale manipulation persist. Despite challenges, the future of DeFi governance holds promise for reshaping the financial landscape and advancing decentralization principles. Adaptation to emerging trends and collaborative efforts are essential for realizing the full potential of community-driven governance in DeFi.
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