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What is the purpose of a “governance token” in a decentralized autonomous organization (DAO)?

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Marina Protocol is a global Web 3.0 tutorial platform with learning materials.

It provides beginners with easy-to-use content and advanced interfaces for activities.

Users can take part in Web 3.0 projects and get rewarded for their experiences.

You can download the app from the Google Play Store and create a new account.

To begin a quiz, open the Marina Protocol app, tap on “Learn & Earn”, and choose the correct answer.

In this guide, you’ll learn the answer to “What is the purpose of a “governance token” in a decentralized autonomous organization (DAO)?” in Marina Protocol.

What is the purpose of a “governance token” in a decentralized autonomous organization (DAO)?

Question: What is the purpose of a “governance token” in a decentralized autonomous organization (DAO)?

Answer: To facilitate voting on governance proposals.

Further reading

Which blockchain platform is known for its focus on enhancing privacy through features like Confidential Transactions and Bulletproofs?

What is the role of an “oracle” in the context of smart contracts?

Which consensus algorithm aims to achieve agreement through a combination of randomness and reputation?

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