What role do DAOs play in decentralized finance (DeFi)?

1 answers

• Dec 16, 2021 · 3 years ago
  At BYDFi, we believe that DAOs are the backbone of decentralized finance. They allow users to have full control over their funds and participate in the decision-making process. With DAOs, users can vote on important matters such as protocol upgrades, fee structures, and asset listings. This ensures that the platform evolves according to the community's needs and preferences. DAOs also enable users to earn governance tokens, which can be used to influence the platform's direction and earn rewards. In short, DAOs empower users and create a more democratic and inclusive financial system.
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