Governance

Vote on major decisions for the protocol.

OmniYield DAO

OmniYield operates as a Decentralized Autonomous Organization (DAO), governed entirely by its community of veOY holders and delegates. The governance framework allows the community to propose, vote on, and implement changes to the protocol.

Upon the initial release of governance, a proposal must follow the guidelines outlined below to pass. These guidelines may be updated over time by the DAO.

Discussion

The first step in the governance process is the discussion phase. This phase serves as the foundation for informed decision-making, allowing community members to propose ideas, debate their merits, and refine proposals before they move to a formal voting stage.

The discussion phase typically unfolds in the following way:

1

Idea generation

Community members brainstorm and develop ideas that could improve the OmniYield protocol.

2

Soft submission

Before a proposal is set for a vote, an initial proposal is drafted and shared with the community on Discord. This draft includes detailed information about the proposed change, its rationale, potential benefits, and any associated risks.

3

Community discussion

Once a proposal is submitted, it is open for discussion. Community members provide feedback, ask questions, and debate the merits of the proposal. This discussion phase will last five days upon the initial release of governance but may be updated in the future.

If a vote is critical, impacting the protocol considerably, there will be a community town hall on Discord to discuss the proposal in depth. Community members can and are encouraged to hold independent town halls on Discord.

4

Revisions

Based on the feedback received, the proposal’s author can make revisions to address concerns and clarify certain points.

5

Final draft

After revisions, the proposal is updated to a final draft. This version reflects the collective input of the previous stages and is typically more polished.

Proposals & Voting

The second step in the governance process is the voting phase. This phase ensures that decisions reflect the collective will of the community.

Voting is open to any eligible veOY holder and is held on Snapshot. The following is a general overview of the voting process:

1

Proposal launched on Snapshot

After a proposal has been refined and finalized during the discussion phase, it is posted on Snapshot for voting. Upon the initial release of governance, the voting period will last five days and is subject to future changes.

2

Voting eligibility

To participate in voting, users must have a veOY balance before the snapshot takes place for that vote. Votes are weighted on a linear basis.

Some veOY holders may choose to delegate their voting power to trusted delegates who vote on their behalf. While there is a list of official delegates, users can also simply delegate to any address of their choice.

3

Vote tallying

As votes are cast, they are recorded and tallied. Upon the initial release of governance, a proposal will pass if it receives a simple majority (more than 50%) of the votes cast. This rule is subject to change with future governance proposals.

4

Result announcement and implementation

Once the voting period ends, the results are announced and implementation begins.

If new and material information is found to have been omitted from the proposal, the proposal may be resubmitted for a new vote. This is to ensure that community members have all the necessary information they need to make a decision.