[PRESS RELEASE – Please See Disclaimer]
CryptoLocally has recently announced the launch of GIVernance, making them the first fully decentralized peer-to-peer exchange in the world. This is another first from CryptoLocally which earlier became the first P2P crypto marketplace with a DeFi feature with its Finance Wallet. GIVernance invites GIV token holders to lead CryptoLocally’s direction by integrating a governance model at its heart.
Decentralized Governance Through Givernance
GIVernance is the next evolution of GIV tokens, CryptoLocally’s native tokens. It gives GIV holders the power to participate in creating and voting proposals that determine the direction of the development of CryptoLocally’s ecosystem. Those who choose to participate are only required to stake their GIV tokens. In fairness, greater weight is given to voters with higher voting rights. Initially, token holders will have the right to approve token listings, modify the utility of the token, and suggest governance model improvements.
According to their announcement, GIVernance will also give token holders control over the level of inflation of the GIV token, revise staking rewards, and decide on the free floats of the platform by way of token burns. GIVernance participants will also be able to choose CryptoLocally Vault (CLV) strategies with the main aim of bringing more value into the entire CryptoLocally ecosystem.
“GIVernance is a huge milestone for us at CryptoLocally, by allowing the community to manage and govern the whole platform through GIVernance, we’re finally offering a unique decentralized solution to the users! Voting rights will now offer GIV holders the ability to choose which token will be added to CryptoLocally, the level of inflation and even the choice to vote for proposals submitted by other community members!” – Hugo Campanella, CryptoLocally co-founder.
The GIV Token
GIV is the native utility token of the CryptoLocally P2P exchange. It was first integrated as a discount and incentive token where buyers and sellers are both awarded GIV tokens each time they trade. Users earn GIV token staking rewards when they’re holding GIV tokens on CryptoLocally’s Finance Wallet. In addition, providing liquidity to Balancer and Uniswap enables them to earn more tokens. Alternatively, GIV tokens are available for sale within CryptoLocally’s platform or in secondary markets like Binance DEX and Bithumb.