Glitter Finance Community Governance Approach
The traditional financial system has been around for centuries, but it’s far from perfect. It is centralized, which means that its decisions are often made by a few people who have an economic interest in those decisions. Furthermore, the traditional financial system limits or even discriminates against certain users based on their location or socioeconomic status.
The decentralized nature of blockchain technology allows for a new paradigm of governance that is more democratic, transparent, and accessible than conventional institutions. As opposed to the traditional model, decentralized applications (DApps) and smart contracts allow for transactions to be conducted without “the middleman.” Unlike the traditional financial system which is governed by central authorities, DeFi solutions are controlled by their user base and make key business/ development decisions using governance mechanisms such as voting systems.
Glitter Finance Governance
Glitter Finance is governed by its community members via Glitter’s voting system. The Glitter Finance community governance approach means that decisions are made by the community members. This implies that $XGLI token owners can suggest new features or initiatives, vote on development proposals, and have an immediate impact on how Glitter Finance develops in the future.
Glitter Finance is managed by a decentralized autonomous organization (DAO), and token holders have the option to participate in governance through the Glitter platform’s voting mechanism. The Glitter community’s governance is supposed to be simple and inclusive, allowing members to propose and vote on development ideas that will contribute to the success of Glitter Finance.
$XGLI token holders have greater insight into how their money is spent through community governance than they would via the financial system. Community governance allows for transparency and the input of the entire user base (not just a few people who are unaccountable to others), which creates trust between Glitter’s users. Everything is recorded on the blockchain, so everyone has a record of what happened.
One token equals one vote for most DeFi platforms, including Glitter Finance, and a simple majority of more than 50% suffices to submit a new proposition. The more tokens an individual or entity owns, the greater their voting weight is. If you don’t want to vote directly, you may delegate your voting power to another address. Once a vote is passed, the proposal can be executed.
Glitter bridge integrates yield farming on Algorand, Solana, allowing yield farmers to earn governance tokens for securing the network and participating in its governance. Glitter bridge will also offer staking services, enabling holders of $XGLI to deposit their tokens into a secure account and earn interest on their investment. Those governance tokens are then deposited in other DeFi dApps on Algorand, Solana to accrue interest or earn access to other kinds of digital assets and financial instruments. Glitter yield farming aids in effectively bringing in new capital to Glitter Finance.
About Glitter Finance
The Glitter Protocol is a cross-chain bridge with advanced bridge capabilities and architecture. We enable the redeployment of synthetic or wrapped assets, which are then converted into integrated yield pools by the Glitter Bridge. We also link it with artificial intelligence (AI) and machine learning (DLN), which work together to boost deposit yields. By doing so, we produce a profit for the trader where previously there was none, and we propel mass adoption by cooperating with them to assist them trade successfully.
