Governance

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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.

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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.

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Community Multisig

The community multisig is a 3/7 Safe which can be found here. The signers are:

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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.