We have always believed that together, with the combined power of our community, we can make DeFi truly accessible. This is why we launched our governance token DVF – to give rise to this community power and drive the DeversiFi protocol into the future.
And today we’re taking the next step with DVF by launching our full governance module!
Governing DVF
From today, holders of DVF can stake their DVF on our brand new governance module to receive their xDVF (staked) and uncover their voting power.
All they’ll need to do is go to the ‘Home’ of our governance module, and connect their wallets…
And then enter the amount of DVF they want to stake and click approve
Sounds easy right? Are you ready to stake your DVF now?
We’ve pulled together this video to show you just how easy it is to uncover your voting power today. Remember every voice has the power to shape the future of Deversifi.
You’ll also be able to unstake your DVF at any point in exactly the same place (although we reckon you’re going to want to get in on that voting action!)
Why should you stake your DVF?
We sweat the Big stuff and the Small stuff at DeversiFi. And we want our community to too. So as part of DVF governance, and armed with xDVF holders will be able to vote on the Big stuff and the Small stuff on the DeversiFi protocol.
The Big stuff:
By the Big stuff we mean changes to the protocol like smart contract upgrades, treasury spending and multisig keyholder changes. If a proposal is successful (and let’s hope there will be lots!), any proposed transactions can be executed by members of the community (that’s YOU). All you need to do to propose is to follow these steps:
‘Discuss’
- Discuss your proposal on our Discourse Forum. As well as providing a great opportunity to gauge sentiment/agreement from the rest of the community before a full vote, this is also a great opportunity to get feedback and improve a proposal.
- Once the rest of the community is on board and the proposal has a realistic chance of being agreed, you should move to step 2 – the main proposal and vote.
The main ‘Proposal’ and ‘Vote’
- The main proposals and voting happen on Snapshot. All you need to do is create a snapshot proposal using our template.
- Once the proposal has been submitted, it can be voted on by anyone with an xDVF balance at the time of the submission. The whole community can vote – anyone holding xDVF on-chain, those with L2 balances of xDVF on DeversiFi and anyone with vested xDVF tokens inside a vesting contract. It really is a team event!
- If your vote is passed then it’s onto step 3…
The exciting part ‘Execution’
- This is where our DVF DAO council comes into play. Initially the council will be able to veto transactions before they are executed. Don’t worry – this is only a safety net and will be managed on SafeSnap. We are a defi platform and so to stay true to our decentralized roots we’re hoping that once the governance process is trusted and seen to be robust, these multisig holders will be removed, leaving the full process in the hands of DVF holders without additional safeguards.
How will you use your voting power? Click here to read our detailed guides on each step and get proposing today.
The Small stuff:
Soon, DVF holders will also have the power to vote on smaller adjustments, at the click of a button. All you’ll need to do is login, connect your wallet and vote in the governance module and signal your preference!
By the Small stuff we mean things like the continuous adjustment of several parameters related to the operation of DeversiFi and the liquidity mining program. Each Sunday night at Midnight UTC the dial values will be set for the following 7 days.
Remember only those with xDVF balances on DeversiFi are able to vote on smaller adjustments. It couldn’t be easier to stake and create xDVF instantly so what are you waiting for?
The governance module will be progressively decentralised over time and may evolve into a different form that the model stated above.
Each vote in our community has the power to shape our future. What could you do?
About DeversiFi
DeversiFi makes DeFi easy. Swap, Invest and Send without paying Ethereum network fees.
Twitter: https://twitter.com/deversifi
Discord: https://discord.gg/bfNDxZqPSvf
