Announcing Governance

This post was originally published on Wault finance

As a decentralized protocol, one of the things we at Wault value most is distributed governance, which not only gives a voice to token holders but also allows us to leverage the collective wisdom of our users. As such, we’ll soon be instituting governance processes so token holders can contribute to choosing the future development direction of Wault.

We’ll be launching this in stages. To start, we’ll have a Council of Ambassadors made up of prolific users and moderators, which will maintain close contact with all our users in our socials, collect proposals, and choose the most practical proposals to submit to voting. Below is the list of Ambassadors:

@HoneyInvestments
@tripledoubleG
@polohkwault
@acvwillneverdmyou
@jokerescu
@HaryBeno

Once a proposal is put to a vote, 20% of the circulating supply of the governance token will have to participate in the vote to reach quorum, and a 51% majority of those votes will have to vote yes for the proposal to pass. There will be no lockup or fee for voting. This will be the general process, and since we have three tokens — WAULTx, WEX, and WEXpoly — we will also have three governance systems following the aforementioned process in the form of Snapshot forums.

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WEX will have voting power over WaultSwap related areas on BSC including:

biswap
  1. WEX Emissions rates
  2. Development direction of WaultSwap
  3. Usage of treasury funds from trading fees
  4. WUSD collateralization
  5. WPools
  6. Adding/removing farming pairs

-> WEX Governance

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WEXpoly will have voting power over the same aforementioned areas but on Polygon.

->WEXpoly Governance

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WAULTx will have voting power over all areas external to WaultSwap including:

  1. Launchpad
  2. WAULTx marketing funds
  3. Strategy vaults
  4. Greater site design
  5. New products not related to WaultSwap

-> WAULTx Governance

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Going decentralized has been our goal all along and this is a major step in that direction. In the future, we’ll continue to improve and democratize the governance process as well, and we hope all you Wault Warriors will work with us to make the best of the protocol, contributing in placing the bricks to construct this building with your own hands.

If you have any ideas or thoughts, please join us on our socials:

Telegram Discord Twitter


Announcing Governance was originally published in Wault Finance on Medium, where people are continuing the conversation by highlighting and responding to this story.

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