Polycub has been getting more interesting by the day since it was launched. The latest feature that’s gone live in the Polycub ecosystem is the Xpolycub Governance feature which I find to be very interesting.
The announcement postreferenced how most DeFi protocols had promised governance at their inception with nothing to show for it to date and it’s quite true, governance tokens were once a buzzword around crypto, launch a DeFi platform and slap “governance token” in the introduction and there’s likely to be a rush for it.
Giving the investors the ability to enact changes and have an impact on the direction of the platform is practically putting the platform into the hands of the investors, it’s a two-edged sword in my opinion.
Most people are shitty investors and don’t know what they’re doing most of the time, giving them such responsibilities might not bode very well but there is a caveat to this, the founder's idea, if allowed to be debated upon in public discourse— could be further improved through proposals that would be voted upon by the people.
It also introduces new dynamics into the system, like Community Whale Wars. Xpolycub holders will periodically vote on proposals to where yield should be more allocated. We are going to see this put into action when other community tokens e.g Splinterlands community with SPS token are onboarded.
So to have more influence over the direction of the yield each community will have to compete for the highest Xpolycub holding power. This is one super cool utility right here for Xpolycub.
Other mentioned examples of proposals include the following;
All quite interesting stuff, with even more on the way.
The most recent implementation of the governance system is taking on the Polycub claim window by suggesting options to decrease the claim penalty date from 90days to 15.
According to Polycubs emissions schedule, things are still calm, hence the tokens are finding base in the hands of long term holders.
At the time of writing this post, the price of Polycub is at $0.27. Meanwhile so much is happening in the background
Price is a shitty metric when trying to determine the potential of a cryptocurrency, most of the time. Don’t get caught up.
Hodl and build. Thanks for reading.
