PsyFi Documentation
  • Welcome to PsyFi
    • Why use PsyFi?
    • PsyFi Product Suite
    • PsyVaults - Vaults Product
      • 🏗️Covered Calls & Secured Puts Vaults Architecture
      • 📶Leveraged Strategy Vaults (Call Spreads & Put Spreads) - Currently Paused
      • 💹Market Making Vaults - Currently Paused
      • 📚PsyVaults Resources
        • PsyFi Vault Contracts
      • 👩‍🏫PsyVaults Tutorials
        • 💵Weekly Bidding on V2 Vaults
        • 💰PsyVault Rewards
          • Auto-Deposit into PsyLend to Earn Rewards
          • Understanding Staking Rewards
          • Boosting your Staking Rewards
      • ❓PsyVaults FAQs
    • PsyLend - Structured Products Lending
      • 👩‍🎓Tutorials - Supplying & Borrowing
      • 🎰Supply & Interest Rate Calculations
      • 🅿️Lending Parameters
      • ⚒️Liquidations
      • 💰Rewards
      • ⚡Fees
      • *️Risks & Insurance Fund
      • PsyLend FAQs
      • PsyLend Glossary
  • PsyFi DAO Audits
    • Audits
  • Build with PsyFi
    • Options Protocol
      • American Style Options
      • Tokenized European Style Options
      • Under-Collateralized European Style Options
      • PsyOptions FAQ
    • Fusion - Airdropping Options - Deprecated
      • 👩‍🏫Fusion Tutorials
        • Users: Option Rewards and What You Can Do With Them
        • Users: Claiming Airdrops Through Fusion
    • Developers
      • Program Integration
      • Client Integration
        • Namespace: instructions
        • Namespace: serumInstructions
        • Namespace: serum utils
        • Enumeration: ClusterName
        • Enumeration: ProgramVersions
        • Class: Validation
      • PsyFi DAO Contributor Support
    • Designers
      • Logos
      • Fonts
  • Options Education
    • Styles of Options
    • Calls & Puts
    • Option Strategies
    • Glossary
  • PSY Token & DAO
    • PSY Tokenomics
      • PSY Token Unlock Schedule
    • Governance Infrastructure & Tokenomics
    • Governance Parameters
    • PSY 2.0: PSY Stake and DeMux Overview [RFC]
    • Governance Tutorials
      • Governance Overview & Walkthrough
      • Initializing a Proposal Using Poseidon [RFC]
      • PsyOptions Protocol Governance Actions
      • Voter Stake Registry Set Up
        • How to Lock Your Own Tokens
        • How to Propose Issuing Locked Tokens
        • How to Propose Clawing Back Granted Tokens
      • PSY 2.0 - How to Stake Your PSY to Start Participating in PSY 2.0 Governance
      • PSY 2.0 - How to Claim Rewards For Staked PSY
      • PSY 2.0 - How to Setup a RewardPool
      • PSY 2.0 - How to perform DeMuX Actions on Reward Pools [RFC]
      • PSY 2.0 - How to view tokens that are sent to DeMux [RFC]
    • Governance FAQ
      • 🐛PSY DAO Bug Bounty
    • Poseidon [RFC]
    • PsyFi DAO Contributors
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  • FAQ
  • What Are Council Tokens? What is Their Purpose?
  • Who is on the Council?
  • Why Are the Governance Parameters Different For All of the Different Governances?
  1. PSY Token & DAO

Governance FAQ

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Last updated 1 year ago

FAQ

What Are Council Tokens? What is Their Purpose?

The "Council" is essentially a multisig. The Council provides a failsafe that can vote on, and push proposals if quorum cannot be reached due to lack of community engagement. This keeps the core team from being locked out of governance. Council tokens can always be burned to give up these special privileges once community engagement is active, and they are no longer needed. Additionally, in the event of a team member going rogue, more tokens could be minted so that they are diluted to the point where they cannot do anything.

Who is on the Council?

The Council is composed of four core team members, and one external advisor.

Why Are the Governance Parameters Different For All of the Different Governances?

Parameters vary for the different programs due to their varying degrees of importance to the DAO. For example, our and protocols have the highest Minimum Community Tokens to Create a Proposal and highest Vote Threshold Percentage because they are the most important programs owned by the DAO. A hostile takeover of these programs should be extremely difficult. This same logic applies to our and treasury accounts.

American
Tokenized European
PSY
SRM