The process by which token holders vote on protocol changes, parameter updates, and treasury spending. On-chain governance uses smart contracts to execute approved proposals automatically.
The process by which token holders vote on protocol changes, parameter updates, and treasury spending.
On-chain governance uses smart contracts to execute approved proposals automatically.
This is a key building block of decentralized finance. Understanding it helps you navigate DeFi protocols safely, evaluate yield opportunities, and avoid common pitfalls.