$LACE tokens are a governance token that enables token holders to propose new protocol and platform updates, enhancements or changes. $LACE also allows token holders to vote on such proposals. Token holders have the option of delegating their vote to other token holders or a group if they choose.
Voting is weighted by the total amount of $LACE staked in each vote. Token holders can vote on as many proposals as they wish, however staking on each vote reduces the total amount of remaining tokens available for voting. Therefore token holders should be strategic about how many tokens they wish to stake towards each proposal.
Tokens are unstaked and returned to the voter at the conclusion of the vote or if voluntarily rescinds.