Governance FAQ

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 American and Tokenized European 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 PSY and SRM treasury accounts.