Alex Gluchowski, the co-creator of ZKsync, has put forth a novel approach for the governance token of the platform.
He believes the token should play a vital role in boosting the network’s economy instead of merely serving as a coordination mechanism.
In a forum post dated November 4, Gluchowski detailed how the token was effective during the project’s early stages, when it was still being developed.
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As ZKsync evolves into a more interconnected network of zero-knowledge chains, Gluchowski emphasized the need for the token to generate value and foster wider adoption.
He highlighted the significance of establishing a framework where the token can actively contribute to the network’s maintenance and enhancement, including funding upgrades, bolstering security, and supporting shared services and tools.
One key aspect of his proposal involves creating new avenues for the token to accrue value. Within the network, it could accumulate fees from services like messaging and settlement. Beyond the network, value may come from licensing software utilized by enterprises.
The revenue generated from these channels would be managed by a governance system. This governance would determine how to allocate funds, whether to acquire tokens from the market, incentivize users who stake their tokens, or decrease supply through token burns.
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