Governance token
A token that grants its holder the right to vote on decisions about a protocol or DAO, such as changes to its rules or how its funds are used. It functions somewhat like a share that confers voting power, though usually without the legal rights of corporate stock (see DAO).
In the bookExplained in Chapter 16: Tokens: Cryptocurrencies, Fungible Tokens, and Stablecoins
More terms
Chapter 8
Get Chapter 8 free
Subscribe and Chapter 8, on cryptography, opens for you on this site. Invite friends and the rest of Part III opens too.
One email to confirm, then Web3 in plain terms, a free seven-day email course, and an occasional note about the book. Unsubscribe any time.