Someone asked: What can governance tokens actually be used for?
My answer: Many DAOs start with off-chain voting on Snapshot, which doesn’t require paying gas. Formal proposals are then voted on-chain. Voting power is based on the number of tokens held, so if the team, early investors, and whales hold a larger share, the results are often swayed by a small number of addresses.
$UNI 6.84（-3.63%）
If you learned something, drop a 1. If you didn’t understand, leave a comment and keep asking.
This may not be entirely accurate, so use your own judgment.
My answer: Many DAOs start with off-chain voting on Snapshot, which doesn’t require paying gas. Formal proposals are then voted on-chain. Voting power is based on the number of tokens held, so if the team, early investors, and whales hold a larger share, the results are often swayed by a small number of addresses.
$UNI 6.84（-3.63%）
If you learned something, drop a 1. If you didn’t understand, leave a comment and keep asking.
This may not be entirely accurate, so use your own judgment.