The decentralization of cryptocurrency is not only reflected in the technological level but also in the depth of community governance. BMT's approach in this dimension has taken a differentiated path of 'user co-creation', making its ecological decisions more aligned with market demands.
The governance system of BMT is divided into three stages: 'Proposal-Voting-Execution'. Any user holding more than 10,000 BMT can initiate a proposal, covering areas such as technical upgrades, entry for cooperative projects, and adjustments to incentive rules. For example, the proposal to 'expand the mapping scope of real estate data' in Q4 2023 was initiated by community members and was implemented after being approved by 67% of BMT holders, ultimately facilitating cooperation between Bubblemaps and three international real estate agencies. This mechanism transforms BMT holders from 'investors' into 'ecological co-builders', enhancing community cohesion.
To avoid 'large holders monopolizing voting rights', Bubblemaps introduced a 'secondary voting' mechanism—users' voting weights are not simply proportional to their holdings, but rather the square root of their holdings (for instance, a user holding 100 BMT has a real weight of 10; a user holding 10,000 has a weight of 100). This somewhat balances the discourse power between small retail investors and institutions. Data shows that the participation rate in BMT governance proposals has consistently remained above 35%, far exceeding similar projects (average 20%), reflecting the high activity level of the community.
In the future, Bubblemaps plans to expand its governance scope to 'cross-chain ecology'—allowing projects from other public chains to participate in the rule-making of Bubblemaps by holding BMT. If this initiative is realized, it may upgrade BMT from an 'in-ecosystem token' to a 'cross-chain governance token', further amplifying its value reach.