Governance Rounds
Maven Finance's Governance: The Pulse of Decentralized Decision Making
Maven Finance's governance protocol is structured through a multi-round process to ensure a thorough and democratic decision-making procedure.
These rounds include:
1. Proposal Round
This is the initial phase where Satellites, acting as representatives of the Maven Finance community, propose changes and upgrades to the system. Proposals can vary from adjustments to smart contract parameters to more complex amendments such as the inclusion of new lending & collateral assets or creation of new farms and data aggregators.
Proposal Round2. Voting Round
Following the proposal round, the proposed changes and upgrades are put to a vote. Satellites, who are staking on behalf of their delegates, cast votes based on the preferences of their delegates. Stakeholders can participate passively by staking and delegating their voting rights to a Satellite or actively by operating a Satellite node themselves.
Voting Round3. Timelock Round
After a proposal passes the voting stage, it enters a timelock round.
During this period, the approved changes and upgrades are not yet implemented, providing a buffer period for any necessary preparations or precautions before the changes take effect.
Timelock RoundThese rounds apply to the main governance protocol for high level business logic and technical upgrades, which are conducted over a multi-day period.
For more immediate actions, such as spending treasury funds or dealing with emergencies, the Emergency Governance Protocol or one of the Threshold Governance protocols are utilized where a Quick Threshold Vote is conducted, which streamlines the process and expedites decision-making.
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