Latest Blast Update: $BLAST Can Now Be Used for Decision Making!

Bittime - $BLAST token holders, there's good news! The Blast Foundation officially launched Blast Governance, a feature that allows you to help determine the future direction of Blast.

Through Blast Governance, you are no longer just a passive investor. Now, you can play an active role in developing the Blast ecosystem by participating in suggestions, discussions, and of course, voting on important decisions related to Blast. Some important decisions you can influence include:

• Improved Blast protocol
• USDB support composition
• ETH liquid staking provider
• Transaction fees in the Blast ecosystem
• And so on

Blast Governance: Fast, Efficient and Controlled

Generally, token-based governance systems are known to be slow and inefficient. The decision-making process in this system is often long-winded, hampering the progress of the crypto ecosystem.

The Blast Foundation understands this, which is why they designed Blast Governance specifically to address these weaknesses.

Blast Governance is designed as a system with a check and balance mechanism. This system ensures $BLAST token holders have strong voting rights without hindering the rapid progress of the Blast ecosystem.

Two Controlling Councils: Token Council and Progress Council

Blast Governance is run by two councils, namely the Token Council and the Progress Council. Each council has the authority to submit proposals and veto proposals submitted by other councils.

Progress Council focuses on fast and efficient development of Blast. Meanwhile, Token Council has veto power over proposals as well as the authority to replace members of the Progress Council. In other words, $BLAST holders via the Token Council have ultimate control over the Blast Governance system.

The launch of Blast Governance is proof of the Blast Foundation's commitment to building a decentralized and community-controlled ecosystem. With Blast Governance, the future of Blast is now in the hands of you, the $BLAST holders!

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