Governance
"That government is best which governs least." — Henry David Thoreau
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"That government is best which governs least." — Henry David Thoreau
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The OptSwap protocol is governed by a Decentralized Autonomous Organization (DAO) whose members vote on proposals put forth by the community.
OptSwap DAO Governance Tokens can be Vote-Escrowed for one (1) to four (4) years which grants a proportionally higher voting power to the holder. Vote-Escrowed Tokens are non-transferrable and can be used only for voting and staking during the escrow period. They cannot be unescrowed or sold or withdrawn before the escrow period is complete! The entire process is non-custodial and handled on-chain by smart contracts.
There are various types of proposals which cover every aspect of the protocol including DEXes, AMMs, Oracles, Fundraising Rounds, Airdrops, Commercial Papers and Treasury Operations. All governance actions must take place only through governance proposals for which voting and proposal execution takes place on-chain.
The various aspects of governance, including the scope of powers it can and cannot yield, are detailed in this section.