Serum DAO Will Vote On New Update Proposal!

Decentralized exchange operating on the Solana network Serum (SRM) Its developers have drafted a bill that targets a number of changes to the platform.

Collaboration of Solana and Serum DAO developers TDM Blockchainprepared the update blueprint and shared it with the community on the Medium channel.

According to the proposal, a new token is planned to be created for the governance of the Serum platform. While Serum’s own governance token (SRM) already exists, the name of the new token was determined as gSRM in the proposal submitted by TDM to the vote.

New community token, SRM will have a direct relationship with Everyone holding SRM has the same amount gSRM token will be found. The update proposal prepared by TDM Blockchain is based on a very utilitarian reason.

The serum community can have a say in the management of the platform with the SRM tokens it holds. However, investors who lock SRM in areas such as staking are deprived of this right. TDM Blockchain’s proposal will generate an SRM equivalent governance token, allowing SRM-locking investors to join the platform as well.

What is DAO? What Does It Do?

Confusing new crypto investors, the term DAO means “Decentralized Autonomous Organizations” in Turkish.

The designers of crypto projects are also assigning various rights and roles to the communities to make their ventures more decentralized. For example, investors who want to use the right to vote in the Serum project can be involved in all processes by holding SRM in their hands.