Abstract
This research paper explores the concept of Decentralized Finance (DeFi) and the importance of governance and decision-making in DeFi platforms. The paper reviews the literature on traditional finance governance models and blockchain-based governance mechanisms in DeFi platforms, and discusses the challenges and opportunities in designing decentralized governance models for DeFi platforms. The research question is "What are the challenges and opportunities in designing decentralized governance models for DeFi platforms?" and the study objectives are to review the literature on traditional finance governance models, analyze blockchain-based governance mechanisms in DeFi platforms, and discuss the challenges and opportunities in designing decentralized governance models for DeFi platforms. A mixed-methods approach is utilized, combining a systematic review of the literature with a survey of DeFi platform users. The results reveal that there is a growing interest in decentralized governance mechanisms among DeFi platform users, but there are also several challenges that need to be addressed in designing effective decentralized governance models. This research contributes to the ongoing discussion on the importance of governance and decision-making in DeFi platforms, and provides insights for the design and implementation of decentralized governance mechanisms in the DeFi ecosystem.
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