🪙 Community-driven Governance

PunkDao Governance

We’re proud to announce a governance system that will replace the PunkDao protocol’s administrator with community governance — allowing PunkDao token holders to suggest, debate, and implement changes to PunkDao — without relying on, or requiring, our team whatsoever.

Here’s how it works:

Anybody with 1% of the current PunkDao supply, delegated to their address can propose a governance action; these are simple or complex sets of actions, such as adjusting reward ratios between the pools, support for a new asset, adding new pools, or changing any other parameter or variable of the protocol that the current administrator can modify.

Lower Barriers to Entry

For anyone who doesn’t have a large amount of PunkDao, they can delegate their voting rights to the address of their choice: the owner’s wallet, another user, an application, or a DeFi expert.

Even better, anybody can participate in the PunkDao governance by receiving delegation, even without needing to own PunkDao. The token also includes code to query an address’ historical voting weight, which is useful for building complex voting systems.