A look a MakerDAO's decentralized governance system
MakerDAO is a decentralized governance community that enables the generation of Dai - a popular decentralized stablecoin.
The community aims to keep the value of Dai as close to one United States dollar as possible through an automated system of smart contracts on the Ethereum blockchain. The owners of its governance token, MKR, vote on changes to certain parameters in its smart contracts in order to ensure the stability of Dai. Together, Dai and MakerDAO are considered the first examples of decentralized finance to receive significant adoption. This stack has been one of the most successful examples of a decentralized governance and decentralized finance systems. A discussion on this topic would help understand an existing model of decentralized governnace system.