To date, Parasol Finance has made decisions about the network's technical and economic framework entirely through rough consensus. Parasol Finance governance towards a system that's more distributed

What Is a Governance Token?

Governance tokens are tokens that developers create to allow token holders to help shape the future of a protocol. PSOL token holders can influence decisions concerning the project such as proposing IDO on the Parasol Launchpad platform or voting for the IDO of their choice in order to move it up the list.

In many cases, the changes proposed, vetted and then voted on through on-chain governance accessed by using governance tokens are applied automatically due to smart contracts.

Proponents of systems that use Parasol governance tokens believe that they allow for user control, which holds true to the original cryptocurrency ideals of decentralization and democratization.

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