Governance

CHFRY’s governance process will be multi-pronged, with full decentralization as the final goal.

Informal Governance Process

In the community Discord, there will be separate channels to discuss token swaps, protocol roadmap, governance modifications, and grants.

Ideas that garner enough community support can be submitted for voting.

A community member may draft a soft proposal for Snapshot for an official community vote. Such proposals act as a “temperature test” or a poll, but do not guarantee implementation. The idea needs to be adopted by a development team, with finalized code audited and submitted via the formal governance process.

Formal Governance Process

CHFRY’s initial governance will utilize Gnosis Snapsafe, process outlined below:

• Executable code (i.e. for transfer of assets) can be submitted for voting on Snapshot;

• CHEESE token holders can vote yes or no;

  • There will be requirements for quorum and vote success;

• The results of the vote will be pushed off-chain to on-chain oracle reality.eth, and an escalation or challenge process will begin;

• If successful, the code will automatically execute to transfer treasury assets.

Future Governance

Gnosis Snapsafe is an off-chain to on-chain governance system that is primarily used to control the transfer of treasury assets. As CHFRY matures, we imagine that we will upgrade to a full on-chain governance system (similar to Compound Bravo). This will give more control to CHEESE holders to control governance parameters and protocol parameters, such as new vault strategy integration.

For safety reasons the Project Group shall own the MultiSig keys for Internal Ecosystem addresses. The medium-term goal is to move these to new addresses that will only be controlled by the DAO module.