Editors Note: This article comes fromimToken（ID：imToken）, reprinted by Odaily with authorization.
The emergence of the blockchain has allowed us to see the possibility of decentralization. Decentralized digital assets have been worthless since the beginning, and after ten years of stumbled development, they have gradually become a value storage method recognized by the public. Decentralized finance makes us realize that financial services can exist even without centralized financial institutions, and smart contracts even make the financial threshold even lower.
Source: CoinMarketCap image description Snapshot is a decentralized off-chain governance tool. The popular DeFi projects some time ago basically completed the cold start of the project by issuing governance tokens. Snapshot is the choice of most DeFi projects for decentralized governance. source:https://snapshot.page image description The decentralized governance of DeFi initially started with the issuance of governance tokens by Compound through liquidity mining. COMP holders can propose and vote on the future development of Compound. The amount of COMP held represents the voting weight. This is a brand-new way. In the traditional stock market, even if you hold the stock of a certain company, due to the closed nature of the company’s management, holders of a small number of shares cannot directly participate in corporate governance and can only settle for the next best thing. Proxy voting rights to others. Decentralized governance provides the possibility that every stakeholder can directly participate in project governance. image description Source: A Uniswap poll The picture above is a vote initiated by Uniswap in Snapshot. From the data point of view, a total of 82 addresses holding UNI participated in the governance, accounting for only 0.08% of the total number of 103,714 UNI holding addresses; these addresses correspond to 1696w UNIs, accounting for 7.9% of the 214 million UNI circulation. A support ticket marked in the screenshot is 1546w UNI, accounting for 91.2% of the total voting tokens. There is also a voting method such as Tokenlon, which equalizes the voting weights of different currency-holding addresses, and avoids the situation where the giant whale address in the Uniswap vote determines the result. But neither of these two voting methods can effectively reflect the real wishes of stakeholders. Similar situations are common in the decentralized governance practices of other DeFi projects. It can be seen from this that the status quo of decentralized governance is not ideal. Recent decentralized governance practices, like the early days of decentralized digital assets, seem worthless and a failure. Ten years ago, some people wondered, what is the use of Bitcoin? Are legal currency and gold not fragrant? Stock funds, safe-haven assets, and various derivatives are already so complete, what is the significance of Bitcoin. And now, what is the point of Bitcoin? I think you can answer with a little understanding. Decentralized assets allow us to truly realize the sanctity of assets. Your money belongs to you. This is the basic attribute of this system, not a number defined by authority. So what about decentralized governance? Should have the same potential. The concept of decentralization is subversive. For thousands of years, we have been telling stories of order, and the more orderly, the more civilized. And at this stage, our orderly final form is to form a series of centers: politics, culture and finance. But this is not the limitation of our thinking, but the limitation of the times. Just like before the emergence of quantum mechanics, classical mechanics and relativity are enough to explain our daily life, so the novel world brought by quantum mechanics will only be born after we realize its existence. Now, the blockchain gives us more decentralized options. How much possibility does this option bring?
