DAO Overview
SaucerSwap's decentralized governance will be gradually phased in. The team will initially control the protocol and implement core features such as Swap, Liquidity, Farm, Single-Sided Staking, and Bridge. Once these features are implemented, governance will transition to a DAO. To ensure true decentralized governance, SaucerSwap is exploring various frameworks. One such framework is Calaxy’s Creator’s Galaxy Improvement Proposal (CGIP-4); namely, leveraging a Hedera Consensus Service (HCS)-based ballot & voting architecture. HCS messages will be used to record the creation of proposals, SAUCE-weighted voting on these proposals, and subsequent ballot results. An HCS-based governance architecture provides an open, transparent and provable repository/database of propositions, votes, and ballot results. As the HCS messages are archived on 3rd-party mirror nodes, the history of propositions and votes is public and auditable.
The community will first gain the ability to vote on core proposals pertaining to Community Pools. In other words, they will determine which HTS projects are onboarded to the platform. Over time, SaucerSwap's governance will become more decentralized, allowing users to create community proposals and vote on both community and core proposals.
This governance model is inspired by Hedera’s path to decentralization; namely, how their nodes are operated by governing council members but will grow to include permissioned community nodes, then anonymous nodes. Similar to how Hedera will open node operation to more entities and individuals as performance, security, stability, and incentives of the network mature; SaucerSwap’s DAO-based governance model will become more decentralized as core features are added to the protocol.
Last modified 7mo ago