Governance Model
The Glow protocol will follow a progressive decentralization strategy.
In the first phase, the first 6 months after launch, the governance will be managed by the founding team and early community contributors. This first stage is key to making sure the protocol parameters are well-suited in the stages Glow is most fragile. Also, it enables faster iterations to get the right balance of protocol parameters. We take security very seriously, so the phase-roll approach is the best option to make sure Glow is safe and useful to the community.
In this phase, text proposals will be active for the community members to steer the roadmap and next steps of the Glow ecosystem. The best way at this stage is to hop into Discord and share your ideas in the relevant channels.
After 6 months, the founding team will start the progressive decentralization phase. Hence, the governance function will be transferred to the Governance contract and decisions will be taken by community voting on polls.
The Governance of Glow is divided into two main functions: choosing the Glow protocol parameters and managing the Glow Ecosystem Fund.
Community members are able to govern the protocol via staking of the GLOW token. Voting power is directly proportional to the amount of GLOW each member (address, more specifically) has staked. To have a greater influence in the governance of Glow, users have to increase their staked amounts. This influence is exercised with a fully democratic process via open Polls.
Governance proposals in the Glow ecosystem are called polls. Polls are permissionless, meaning that anyone can create one through an initial deposit of GLOW tokens. If a given poll does not reach the quorum, the initial GLOW deposit will be redistributed among GLOW stakers. This mechanism sets incentives in place to ensure the high quality of the proposals.
Last modified 1yr ago