It’s all about governance bro

Governance tokens are in the midst of a reckoning.

UNI and MKR are, in many ways, DeFi’s most important experiments. But right now, the tokens themselves are suffering from the successes of their respective protocols. 

Both sit at the very heart of what makes DeFi so compelling: Uniswap enables peer-to-peer trading on an open, neutral platform that can’t be stopped or gatekept. Maker manages an overcollateralized, debt-backed and censorship-resistant stablecoin, DAI, the market’s third-biggest with $5.3 billion in circulation. 

Both protocols allow token holders to participate in governance — tweaking the knobs on aspects of the platform, voting…

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