Maven Finance Docs
  • Introduction
    • Getting Started
  • Maven Finance
    • Staking
      • Benefits and Fees of Staking
      • How To Stake and Unstake
    • Satellites & Oracles
      • Delegating To Satellites
      • Satellite Registration
      • Oracle Nodes
    • Earn & Borrow
      • Lending & mTokens
      • Multi-Collateral Vaults
        • Liquidation
      • Interest Rate Model
    • Yield Farms
      • Maven Finance's Yield Farms
      • Yield Farming Dashboard
    • Governance
      • Governance Rounds
        • Proposal Round
        • Voting Round
        • Timelock Round
      • Emergency Governance
      • Financial Governance
      • Satellite Governance
    • Council
      • Management of Finances
      • Management of Vestees
    • Treasury
  • Smart Contracts
    • Smart Contracts Overview
      • Doorman Contract
      • Delegation Contract
      • Aggregator Contract
      • Aggregator Factory Contract
      • Farm Contract
      • Farm Factory Contract
      • Governance Contract
      • Governance Financial Contract
      • Governance Satellite Contract
      • Governance Proxy Contract
      • Council Contract
      • Treasury Contract
      • Treasury Factory Contract
      • Break Glass Contract
      • Emergency Governance Contract
      • Lending Controller Contract
      • Vault Contract
      • Vault Factory Contract
      • MVN Token Contract
      • mToken Contract
      • Vesting Contract
  • Glossary
    • Glossary of Terms
Powered by GitBook
On this page
  • Operational Expenses
  • Financial Governance Requests
  • Other Examples for Financial Governance Requests
  1. Maven Finance
  2. Council

Management of Finances

Fiscal Governance in DeFi: A Look at the Council's Approach

PreviousCouncilNextManagement of Vestees

Last updated 5 months ago

The Council is entrusted with managing access to the on-chain Treasury, which is done through a public multi-signature wallet.

This multi-sig setup safeguards against the concentration of power in one individual and eliminates the risk of fund loss due to any single point of failure, thereby enhancing the security and decentralization of Maven Finance's financial management

Operational Expenses

MVN tokens intended for operational expenditures are transferred to the multi-sig wallet, overseen by the Council's board members and vested over a period of five years.

These funds enable the Council to drive the expansion of the Maven Finance ecosystem and cultivate new products and features.

Financial Governance Requests

The Council may often need to undertake actions that influence Maven's financial landscape, typically to stimulate the platform's growth or to introduce more tokens into the ecosystem.

For instance, payments to developers for platform enhancements are facilitated by the Council Members.

In such situations, a Financial Governance Request is created by the Council to access funds from a specified treasury. Upon approval via a decentralized voting process by Maven's Satellites, the funds are released.

Each of these actions is fully transparent and recorded on the blockchain.

Other Examples for Financial Governance Requests

  1. Community Initiatives: To fund community-led initiatives that can improve user engagement or platform utility.

  2. Security Audits: To cover expenses for regular security audits and enhancements, ensuring the platform remains secure and trustworthy.

  3. Legal Compliance: To handle any legal expenses to ensure that Maven Finance's operations comply with relevant regulations.

  4. Marketing and Partnerships: To fund marketing campaigns or establish strategic partnerships, crucial for the platform's growth and visibility.

  5. Emergency Situations: To respond to unforeseen circumstances or emergencies that require immediate financial attention.

Ensuring Fiscal Responsibility: The Council's Financial Management