The Role of Governance Tokens in Decentralized Finance (DeFi)
Governance tokens are a crucial component of decentralized finance (DeFi), providing token holders with voting power to influence the protocol's development and strategic direction. This prompt explores the role of governance tokens in shaping DeFi governance mechanisms, examining their impact on decision-making, community involvement, and protocol evolution. By understanding the functions and benefits of governance tokens, individuals can better navigate and participate in the dynamic and rapidly evolving DeFi landscape.
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