Lighthouse Defi: Governance, a Fancy Word for Voting?
Developer Update #3
Dev Update Summary:
- UI Prototype in Progress
Architecture for the SAP
- Data Integration from Anchor’s New Liquidation Queue
- Frameworking in Progress
- User Guide in Progress
- Litepaper Undergoing Edits
- Tokenomics Under Review
Governance: A Fancy Word for Voting?
What is Governance, and Why is it Important?
As briefly touched on in our last medium here, Governance is a cornerstone in building an ideal Defi platform and ecosystem. It empowers users, community members, and developers to be involved in how the platform evolves and functions over time through voting. Furthermore, proposals set forth and voted upon allowing for an ideal decentralized ecosystem where one entity does not control decision-making. It thus leads to a democratized system of finances.
How Does Governance Work For You?
How do You Incentivize Governance Participation?
Within any Governance, there are some shortcomings. A significant shortcoming lies with how to incentivize participation in the first place. Having a say in a platform’s development is excellent; however, there is the human element of incentivizing participation. At Lighthouse, we are determined to lead with the idea of incentivizing Governance participation and staking as much as possible to ensure that our platform stays true to the core principles of Defi. Coming soon, we’ll roll out our initial incentives for Governance holders/stakers as well as our initial Tokenomics for our Governance token.
That’s it for this Week’s Update! Thanks Again For Reading, and See You Next Week!
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