Financial Governance
Efficient Decision Making for Maven Finance's Future.
Last updated
Efficient Decision Making for Maven Finance's Future.
Last updated
The Financial Governance protocol is a swift and dedicated governance mechanism that operates independently from the principal governance protocol.
Its primary role is to facilitate the review and approval of time-critical financial decisions and requests made by the Maven Finance Council.
The process encompasses two key stages:
The Maven Council holds the authority to initiate a financial request at any given time for reasons such as:
Requesting a transfer of tokens from the Treasury
Proposing the minting of new MVN Tokens
Determining Contract Bakers for the Treasury
Discontinuing a Financial Request
Following the creation of a Financial Request, the other Council members are prompted to cast their vote in favor of or against the request.
Once the total number of votes surpasses the predefined voting threshold, the Financial Request is forwarded to the Governance Financial Contract, where Maven's Satellites cast their votes.
After being forwarded to the Governance Financial Contract, the Financial Request is open for voting by any Maven Satellite. They have the choice to either approve or reject the request.
The Financial Request is deemed approved and automatically executed when the number of votes meets or exceeds a specified threshold, which is 67% of the Total Staked MVN Supply for the current Governance Cycle.
Note: The voting duration of 3 days and threshold percentage of 67% are adjustable through the standard governance process
