Recently, the results of the governance vote for World Liberty Financial have been announced, with 77.75% of community members supporting the latest proposal. Once this resolution is passed, the project team can allocate funds from the unlocked treasury reserves for incentive programs.
It sounds like they want to accelerate the market promotion and liquidity building of their stablecoin USD1. This approach of using governance votes to determine fund allocation is quite common in DeFi projects. Using treasury funds to support their own stablecoin products mainly aims to increase market adoption, as competition among stablecoins is quite fierce.
Based on the high support rate in the vote, the community seems to approve of this direction. Whether USD1 can be successfully developed will depend on subsequent execution and market feedback.
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GasWaster
· 01-07 10:39
77% approval rating, the community is quite receptive. Just worried that even if we pour money into stablecoins, no one will use them.
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ZKSherlock
· 01-05 07:41
actually... 77.75% sounds suspiciously round for "grassroots" governance, ngl. ever wonder about the trust assumptions baked into these voting mechanisms? like who's actually voting here... the whales or the people
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AirdropHunterKing
· 01-04 14:56
77.75% this number looks pretty intimidating, but I just want to ask how many people have actually read the proposal or just clicked yes...
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SybilSlayer
· 01-04 14:54
77% support rate, the community is definitely on board, just not sure if USD1 can really be achieved
It's the same old trick of governance voting to cut leeks again. A 77% support rate sounds pretty high, but who knows what the actual participation level is.
Whether USD1 can survive depends on the market. The stablecoin sector is already saturated.
Project teams are pouring funds into incentives; in other words, burning money to buy liquidity. Can this continue? I'm a bit skeptical.
Recently, the results of the governance vote for World Liberty Financial have been announced, with 77.75% of community members supporting the latest proposal. Once this resolution is passed, the project team can allocate funds from the unlocked treasury reserves for incentive programs.
It sounds like they want to accelerate the market promotion and liquidity building of their stablecoin USD1. This approach of using governance votes to determine fund allocation is quite common in DeFi projects. Using treasury funds to support their own stablecoin products mainly aims to increase market adoption, as competition among stablecoins is quite fierce.
Based on the high support rate in the vote, the community seems to approve of this direction. Whether USD1 can be successfully developed will depend on subsequent execution and market feedback.