Governance
The human element.
Last updated
The human element.
Last updated
3.finance follows an Archetypal model that splits governance related responsibilities according to the interests of three key groups:
- those with wallet owned assets working in the ecosystem.
and - those who have committed assets to the ecosystem.
- those who are both Depositor & Creditor, with an impetus towards system longevity.
With an understanding of each group, how it is incentivised and its risk profile, each group has been given a different aspect of the ecosystem to govern. Those areas with cross over rely on a based system of consecutive authorisations to pass and implement actions.
Until all work pertaining to governance is complete and a formal hand over of smart contract keys occur, the Development team will manage implementations required by the community.
A 'tier' relates to the cost of submitting a proposal. Where the 'cost' is determined by the tier level.
A tier zero proposal requires one or more 3.NFT(s) to be staked and held by the smart contract for the duration of the implementation process.
A tier one proposal requires one or more Guild NFT(s) to be staked and held by the smart contract for the duration of the implementation process.
Tier two proposals do not require any payment due to their nature and implementation process.
Zero: Proposals that require a commitment of resource and or time that is expected to go beyond any existing maintenance and or resource agreements and where the job parameters are yet been defined.
Further processes are required for all proposals that receive a pass by the community, before they can be submitted for tier 1 approval.
One: Proposals that require financing of any amount and where the source of that financing is to be the 3.finance Reserve.
Should there exist any risk to the 3.finance ecosystem, its longevity and or its present or future security, a tier two proposal will be required. Tier one sign off will not be possible until any and all associated tier two proposals are themselves passed.
Two:
Where a risk is known or has been identified, a tier two proposal will be created to assure any and all steps are taken to satisfy the mitigation of such risks as identified in the proposal. The proposal is only passed when those responsible for guarantee are satisfied.
