Solana Ecosystem DEX Serum Proposes to Launch Governance Token gSRM

The Solana ecosystem DEX Serum's community launched a proposal to adopt a new governance system for the Serum DAO and create a new community token, gSRM. The token will be used to participate in Serum's governance and proposals.

The gSRM is said to represent a locked SRM. Each SRM locked will receive an equal amount of gSRM. gSRM will grant the holder voting rights, and community members must lock their SRM to receive gSRM in order to vote on governance proposals in the DAO. It will take seven days to lock or unlock tokens, but the DAO can adjust this time later.