DMG meaning in Cryptocurrency ?

Answer:

What Is DMM Governance (DMG)?

Founded on March 15, 2020, the DMM Governance token was designed to support the DeFi Money Market (DMM) Ecosystem, which aims to help connect off-the-shelf assets with the crypto community.

The DMM system is decentralized, transparent and designed to enable everyone to re-earn interest in their currency which is backed by real assets represented on the network.

The DMM governance token, DMG, is the tool through which the community can govern and grow the DMM ecosystem and the protocol itself. Ownership of DMG represents the right to govern the parameters of the DMM Protocol and the introduction of new assets to the ecosystem.

The decentralized community that governs the DMM decentralized autonomous organization (DAO) can vote on modifying the DMG tokenomics and utility, through which they can claim excess revenue that is generated by the DMM ecosystem.

This token is a fork of Compound’s (COMP) governance token with added capabilities that include meta-transaction support and a native burn function.

Who Are the Founders of DMM Governance?

DMM Governance (DMG) was founded by Corey Caplan and Gregory Keough.

Corey Caplan is an entrepreneur with experience in the fields of software as a service, consulting and cryptocurrency. His past experience includes co-founding and working as the CEO at Dolomite and as the CEO of Caplan Innovations LLC.

Gregory Keough is the CEO of DMM Governance. He has over 25 years of experience in entrepreneurship and digital innovation. His past experiences include being the founder and chairman of the Institute for Blockchain Innovation and the founder of Blockchain Credit Partners.

What Makes DMM Governance Unique?

DMM seeks to leverage the benefits of the blockchain in order to provide small- and medium-sized enterprises globally with a similar level of access to capital that large companies have always enjoyed.

As such, the goal of the DeFi Money Market protocol is to bridge the gap between the ecosystems of traditional finance and cryptocurrency. DMM gives users the option to combine real-world assets with on-chain digital assets and earn interest.

The DMM DAO functions through the use of the native ERC-20-based DMG token. The DMG token holders enjoy voting rights on protocol governance and are incentivized to maintain and improve the DeFi Money Market ecosystem. They also receive a percentage of the profits generated within the ecosystem.

DMG also has native burn functions and meta-transaction support; the DMM DAO can choose to burn parts of the maximum supply of 250 million DMG tokens.

Related Pages:

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Discover how to mine Monero on CMC Alexandria.

Learn more about cryptocurrencies on the CoinMarketCap blog.

How Many DMM Governance (DMG) Coins Are There in Circulation?

DMM Governance (DMG) has a circulating supply of 50,174,346 DMG as of February 2021 and a maximum supply of 250,000,000 DMG.

How Is the DMM Governance Network Secured?

DMM Governance works with Chainlink’s decentralized oracles that add an extra layer of security and trust to the ecosystem by writing essential valuation and total collateralization data on-chain.

Where Can You Buy DMM Governance (DMG)?

If you are interested in buying, trading, or selling DMM Governance (DMG) coins, it can be done on the following exchanges:

OKExBitZFTXBiONEBKEX

Check out our guide to learn how to buy Bitcoin (BTC) and other cryptocurrencies.

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