Governance

Plow Finance uses a Proof of Stake (PoS) consensus mechanism to both secure the platform and support governance on the platform. Once users deposit crypto assets into the platform, they get $PLOW tokens that serve as proof of stake for their investment. To cash out their investment plus interest, the users are required to send back the tokens to the platform.

The PLOW token will also be used for governing on the Plow Finance protocol. The Plow token is wholly responsible for the direction of the project upon launch. Token holders are free to make any proposal that constitutes a governance action. The community then votes for the proposal and if enough people support a proposition, it will become a new addition to the platform. The proposals are immediately executable upon approval.

The only requirement for voting is holding a token with voting power. If a majority of the governance tokens support any proposal, it will become executable. If for some reason, the implemented proposal is not as desirable once implemented, it can just be replaced with a new proposal.

The team behind Plow Finance deliberately designed the platform this way to ensure complete transparency and to ensure that the community is always in control of the project in the true spirit of decentralisation.