Serum, a decentralized exchange on the Solana network, is considering a proposal to change the governance structure for the project to “Serum DAO.”
Developer Solana and Serum TDM Blockchain have developedofferand filed with the Serum DAO forums on Thursday, passing will result in the creation of a new community token for Serum DAO, currently having a legacy token known as SRM. It is a “locked” version of SRM known as gSRM. The two tokens have a 1-to-1 relationship, meaning the user receives the same amount of gSRM for every locked SRM token.
If the offer passes Serum’s new locked tokens grant voting rights to holders. Community members must lock their SRM to receive gSRM so they can vote on governance proposals in the DAO. Users can also choose to unlock their tokens at any time. Locking or unlocking tokens takes seven days, according to the proposal, but TDM states that the DAO may adjust this timeframe if desired.
The main difference is Instead of giving all token holders the ability to vote in the entire voting process. but only those who have locked their tokens.
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