How valuable is the right to vote on the rules that govern a cryptocurrency? With intense focus on the price of cryptocurrencies, another asset — governance tokens — offers investors more than just the possibility of monetary returns: it let’s them help write the rules of particular blockchain. In the absence of a central governing body, decisions about blockchains are left to their users. But not just any users. Early adopters using a new DeFi service can buy (or earn) governance tokens, which provide the holder with the right to vote on how the blockchain is maintained, upgraded and managed. One …
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