Check out how SundaeSwap Labs intends to improve DEX's governance process
Network . Utilizing the power of smart contract technology, it offers scalable trading opportunities to its users. As with other decentralized exchanges, it utilizes liquidity pools where participants can earn profits by supporting the platform. Recently, SundaeSwap has made a significant step toward its governance model.
Governance on the cryptocurrency market refers to the decision-making process and the creation of rules for the operation of crypto networks or decentralized applications . This encompasses protocol updates, technical issue resolution, resource distribution and other crucial aspects that impact the network's stability and integrity.process have not been defined, despite the platform's decentralized nature and its governance token.
If these rules are approved by Feb. 19, 2023, the process for submitting proposals for improvement will be established. For instance, those wishing to suggest changes must hold at least 10,000 SUNDAE tokens, equivalent to $180 at the current exchange rate. To cast a vote on a proposal, investors can have any amount of SUNDAE in their portfolio.These requirements reinforce the importance of SUNDAE as a governance asset.
Unfortunately, SundaeSwap faced challenges early on that hindered its growth compared to newer decentralized exchanges. The platform faced scalability issues with Cardano's network and did not have sufficient time to thoroughly test its scoopers on the testnet. This opened up an advantage forDespite these setbacks, the recent governance step taken by SundaeSwap may help it regain its position on the market.
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