Governance Light Governance Dark

​
Governance

At launch, governance will be controlled as follows:
  • $COVE token holders via Snapshot
    • Enabling transfers for $COVE
    • Fee switches and settings
    • Funds in the DAO treasury
  • Community multisig with input from Gauntlet and core contributors
    • All other operational admin key functionality (parameters, etc.)
Fully onchain governance (e.g. Llama, OpenZeppelin Governor, SafeSnap Reality / oSnap) will be launched prior to $COVE being unpaused, at which point the community multisig will be sunset and the protocol will be completely controlled by token holders.

​
Process

$COVE token holders can vote on proposals. Initially, the proposals will be on Snapshot, which the community multisig will then enact. Discourse will be the platform for discussion of the proposals.
Governance Process

The Cove governance process

​
Community Multisig

The community multisig is a 3/7 Safe which can be found here. The signers are:
NameAffiliationAddress
scoopy trooplesAlchemix0xf872703F1C8f93fA186869Bac83BAC5A0c87C3c8
DeFi DudeBuildadude.eth
0xtoucanThe Graph0x88cD106fd4002921D71358455ff95c1Af8b951B7
lowpolyduckMezolowpolyduck.eth
FacuYearn0x114fC13bDf5FEFd6D83Ea17d7B4ce7447712F08c
cornYearn0xF53D1fB2EeD22Cf1E8f7E90Da7f1CAe88344065F
SchlagYearn0xB865AAf1f9f60630934739595f183C4900f65ed9

​
Yearn Governance

The community multisig will vote in line with recommendations from Gauntlet. Gauntlet has developed models to optimize the protocol’s gauge votes and fees.
Snapshot Explainer

Cove delegates veYFI voting power to the community multisig