Tally will launch Tally Protocol

ChainCatcher news, Tally CEO and co-founder Dennison stated on social media that Tally will launch the Tally Protocol. The Tally Protocol unlocks the economic potential of governance tokens by providing a liquidity layer for governance staking and re-staking, while optimizing the distribution of voting power to bring economic security back to blockchain protocols.

Additionally, the Tally Protocol will include a smart contract layer (allowing DAO token holders to mint Tally Liquid staking tokens tLST); enabling governance re-staking (users can stake governance tokens into Tally and receive tLST that can be deposited into the re-staking system, with voting rights associated with governance tokens still valid); enhancing DAO security (the protocol redistributes undelegated voting rights back to the DAO, and undelegated tokens staked in the protocol will also be returned to the DAO for redistribution); incentivizing effective governance (by requiring token holders to delegate to active participants for rewards, voting rights remain in the hands of active DAO voters, thereby enhancing security against malicious attacks and preventing passive governance); sustainably incentivizing DAO representatives (a fair and transparent mechanism to reward active representatives).