Community Governance
Plain English
Decision-making power distributed among community members rather than concentrated in a company board. Token holders vote on important decisions, and anyone can propose changes. It’s democracy applied to technology and finance.
Technical
Decentralized decision-making mechanisms where protocol stakeholders collectively govern parameters, upgrades, and strategic direction through token-weighted voting, delegation, and proposal systems. Challenges include voter apathy, plutocracy, coordination problems, and balancing efficiency with inclusivity. Successful governance requires clear processes and aligned incentives.