What is DAO on DEX šŸ§? #education

DAO is a Decentralized Autonomous Organization šŸ‘„ that makes decisions about the development of an exchange.

āš”How does it work in practice?āš”

For example, on the #1 DEX on TON, STONfi, a governance DAO is planned. Decisions regarding adding new blockchains to the exchange, listing or delisting tokens, and so on will be made through voting among DAO membersšŸ˜ƒ.

To become a member of the STONfi DAO, you need to stake STON tokens on the STONfi exchangešŸ“Š. STON is the native token of the exchange. Depending on the amount of tokensšŸ”and the duration of their lock-upšŸ”’, the strength of your vote is determined.

āš”Why does a DEX need a DAO?āš”

Since DEX is a decentralized exchange, it would be strange and incorrect for its governance to be entirely centralized. Additionally, having its own DAO increases trust among usersšŸ˜Š.


#TON $TON