Polkadot improves governance with OpenGov system, giving DOT holders control over network decisions.

From Investing.com

September 6, 2024 6:41 AM:

Polkadot, inspired by other platforms, faces the challenge of scaling decentralized governance. Earlier this year, Polkadot improved its governance model with the OpenGov system, allowing DOT holders complete control over the network. Resilience against corruption is ensured in this decentralized network, preventing domination or interference. Community-driven decision-making on runtime upgrades and treasury allocations is facilitated through the OpenGov system. The voting process operates on a “1 DOT = 1 vote” basis, with options to delegate votes to trusted community members. Polkadot’s governance has matured since the launch of OpenGov in 2022, with hundreds of community-led referenda and a treasury valued at around €300 million. The recent “Decentralized Voices” initiative aims to balance voting power among active community members.

Read more at Investing.com: What’s the impact of Polkadot OpenGov on network governance By Investing.com