The cryptocurrency market has shown that innovation and catering to the needs of users are key factors to stay afloat in the industry. Keeping up with this sentiment, organizations like Cryptolocally have taken it upon themselves to raise the bar in terms of developments.
Just recently, the cryptocurrency exchange announced the launch of GIVernance – an ecosystem model wherein participants will be involved in creating and voting for proposals related to CryptoLocally. With the latest update, Cryptolocally will become the world’s first fully decentralized P2P exchange.
The latest crypto bull run has forced a majority of the world to sit up and take notice of the cryptocurrency sphere. With prices shooting up, it became important to provide services that would resonate with the quality and accessibility of the industry. CryptoLocally chose this opportune moment to kick start the next evolution of its GIV tokens with GIVernance.
According to the organization:
“It [GIVernance] 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.”
Hugo Campanella, co-founder of CryptoLocally, claimed that the launch was a major milestone for the company as well as for the entire virtual asset world. Cryptolocally aims to provide users with a unique, decentralized solution. All voting rights will be able to offer GIV holders the ability to choose which particular token needs to be added to the platform. Some of the other expected features include users having the ability to choose the level of inflation and to vote for proposals submitted by other community members.
The vast repertoire of features provided by CryptoLocally has stirred the conversation pot among users. Many opined that the development is a massive step in the right direction for the cryptoverse as a feature-laden trading area was just what users were promised. The adoption movement was kickstarted when CryptoLocally added a DeFi feature with its Finance Wallet. This was intended to build upon the native token [GIV token] utility features integrated within the platform.