The co-founders of crypto media Bankless are seeking to separate their brand from BanklessDAO two years after its launch.
Governance Token News
Governance tokens are a particular category of crypto tokens used to allocate voting powers to selected users of a blockchain project and are provided in proportion to the contribution done, either in terms of invested capital or computing power. While governance tokens can usually be traded just like any other crypto token, their core function lies in enabling their holders to participate and vote in matters pertaining to the functioning of the blockchain project, thereby determining its future course of development.
Used by decentralized autonomous organizations (DAOs) to facilitate decision-making, governance tokens have more intrinsic value than other types of native tokens for a blockchain project. These tokens can be ascribed a higher valuation considering that they provide the holders with voting rights and therefore differ from other cryptocurrencies used as mere mediums for transacting, financial speculation or as a store of value. Governance token holders together deliberate on matters such as adding new features, deciding whether hard forks are needed, or even changing the governance mechanism altogether, among other blockchain decision-making.
In a blog post, a16z’s Miles Jennings discusses how DAOs can avoid power centralization by applying Machiavelli’s principles.2503
The Optimism network has revealed that it will sell 116 million OP tokens in a series of planned sales.8354
ARB’s price slumps to a new low as a decline in TVL, a decline in active addresses engaging with its DApps and a general malaise across the crypto market take their toll.7363
Aave tokenholders are voting on three proposals that could reshape the protocol’s exposure to the Curve DAO token.2554
The proposal calls for the redemption of PRT tokens for liquid treasury value and the transition to a no-token protocol. Community members referred to the move as a “financial crime.”9535
A few hours into the hack, to everyone’s surprise, the attacker surprisingly reached out to the Tornado Cash community with a new proposal to supposedly give back governance control.11472
After community approval, BIT holders will undergo a token conversion process for the new Mantle token. Governance and treasury management will remain unchanged.7563
A new Web3 initiative aims to build a ChatGPT-style artificial intelligence system on the blockchain.11694
A Chainlink exec said the oracles will improve GMX’s security by providing a more “strong degree of tamper-resistance when settling user trades.”4989
AIP-1.05 was defeated by 118 million votes after the proposal was introduced following the Arbitrum Foundation’s transfer of funds without community approval.6582
All 191 UNI token holders voted in favor of the proposal to launch the DEX on Polygon's zkEVM.5311
The project will provide at least three proposals for Uniswap incentive mechanisms by June.2605
A new proposal asks the Arbitrum Foundation to return 700 million ARB tokens after community backlash. Voting ends on April 14.15033
The Arbitrum Foundation announced that it was only ratifying an existing decision when it proposed a 750 million ARB tokens budget.27105