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Governance Tokens: Surveying Ethereum’s Most Popular DeFi Projects in 2020

Governance tokens, which give holders the right to influence the direction of decentralized finance projects, have been among the biggest hits in the Ethereum ecosystem this year. Indeed, at the time of writing the combined market cap of Ethereum’s top 8 DeFi governance token projects had risen to over $4.3 billion USD. For comparison, bitcoin’s market cap is currently $169 billion, ether’s is $26 billion, XRP’s is $6 billion, and bitcoin cash’s is $4 billion. This reality suggests these governance tokens are becoming increasingly popular in the cryptoeconomy for giving users a direct stake in managing DeFi platforms. However, it…

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