Polkadot governance can play a crucial role in the blockchain’s future. But can it help DOT's price trajectory.
Most of the market indicators were bearish, but CMF was bullish.has been in the limelight for several months now because of its development activity, which has had quite a lot of volatility in the past few weeks.
Apart from that, Polkadot governance has also been a key highlight. Now the question is- Can Polkadot’s strong governance propel growth in the token’s price action?To begin with, Polkadot makes use of a governance mechanism that enables it to change over time in response to the demands of its stakeholders.
The stated objective is to make sure that the network can always be controlled by the majority of the stakes. In order to decide whether to update the network, Polkadot brings together the council and the active token holders.Referenda are simple, inclusive, stake-based voting schemes.
If there is at least one proposal in one of the queues, a new referendum will be put to a vote every 28 days. As per Polkadot’s, a voter needs to lock up their tokens for at least the enactment period after the referendum is over in order to cast a vote. It is also possible to vote without locking, although considering their stake, casters’ votes are only worth a fraction of regular votes.Though Polkadot governance showed how it values the stakeholders, things from the investors’ point of view have not been great of late. The past month especially raised a concerning alarm as DOT’s price chart was red.
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