Binance is trying its hand at decentralized stablecoin governance. The exchange joined the distributed oversight team that approves contracts and code changes on Equilibrium, a DeFi outfit behind the EOSDT stablecoin. EOSDT contracts hold nearly $10 million in collateral according to the Equilibrium website.
Announced Friday (May 22), Binance now has oversight power over new EOSDT smart contracts. As a party to Equilibrium's multisignature hierarchy, Binance will grant – or conceivably withhold – its approval to all contracts prior to release.