TDROP also serves as the governance token for ThetaDrop. TDROP holders can stake their tokens to gain voting rights for proposed changes to ThetaDrop. Each user’s voting rights for a given proposal will be equal to their share of staked TDROP as a percentage of total TDROP staked. The first TDROP vote proposal on the earning rate of TDROP for liquidity miners has already been pushed to the ThetaDrop governance portal.
As the voting process progresses and stabilizes, TDROP holders will be responsible for creating new proposals to be voted on. Voting on proposals are expected to initially occur on a quarterly basis. Similar to the governance mechanism of prominent DeFi projects like Compound and Uniswap, TDROP governance voting will be conducted fully on-chain through smart contract calls. These community proposals will also serve as the testbed for community governance features to be implemented on the Theta blockchain itself, to be voted on by holders of the THETA token.
Updated 4 months ago