Nimbus promotes governance token

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cryptocurrency

A new tokenized asset representing frontiers in fintech, launched today, has an ambitious plan for the end of the year.

Thomas Delahunty reports at NewsBTC that Nimbus, a DAO-driven digital token provider, is offering its GNBU governance token, and that it plans to get this coin listed on an American exchange in 2021.

What is a governance token?

Essentially, it’s a token that allows holders to participate in shaping the protocols around a particular cryptocurrency or defi asset development through their buy-in, showcasing some of the conceptual promise of consensus-based blockchain assets and their ecosystems.

Nimbus, for its part, will allow holders to help decide things like gas fees, reward structures and the use of burn tokens.

Delahunty points out that Nimbus will deliver more than 10 revenue streams to token holders.

It’s also working on certain decentralized apps, for example, to enable IPO participation through cryptocurrency investment and peer to peer credit transactions for a new model of lending.

More details on the Nimbus contribution to defi come from the company’s web page.

“Nimbus DAO is a set of immutable and audited Smart Contracts which will underlie all Nimbus solutions and automatically implement all future decisions of Nimbus Governance token holders,” write spokespersons. “We launch (sic) Nimbus DAO to construct a fair, transparent, and secure platform, and avoid control concentration by those who don’t represent users’ interests.”

Other outside analysis shows more of what governance tokens are generally designed to do.

“Governance tokens are considered as one of the most essential parts of DeFi apps. This enables projects to get a higher decentralization level,” writes Krishnendu Chatterjee at Medium. “Most of the governance tokens function like votes of shareholders, which enable investors to influence the operational decisions and development roadmap of projects. Synergy has been found recently in yield farming and governance tokens through the liquidity mining approach.”

Interested in this kind of ground-breaking investment? Look for opportunities to get involved in the defi community of your choice.

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