🥊Governing the AraFi Protocol

Token Holder Rights and Influence

In this decentralized ecosystem, the concept of governance holds an instrumental role. It provides a structured mechanism through which stakeholders can express their opinions, influence decisions, and contribute to the future trajectory of the project.

1. Initial Governance Structure

Initially, the primary decision-making authority will lie with the team. During this dynamic phase, the team will need to swiftly make and implement decisions that cater to the rapidly evolving needs and challenges of the project.

2. Transition to vlARA Holder Governance

As the protocol becomes more stable, We will begin to transition towards a more decentralized governance system. This will involve expanding governance privileges to ARA Lockers (vlARA), who will gain the ability to influence project decisions via a voting system hosted on Snapshot, a trusted and widely-used platform in crypto.

3. Proposal Drafting and Voting

The team will draft proposals related to key decisions, especially those concerning spending initiatives and project direction. These proposals will be made available for vlARA holders to review, discuss, and vote on, fostering a sense of active participation and community-driven decision-making.

4. Introduction and Role of the Custom Gauge System

Concurrently, the team will be developing a custom gauge system. This system will initially be used by ARA lockers, and later by both ARA lockers and Fractal Holders, to direct ARA emissions towards specified pools.

5. Future Governance Expansion

Looking forward, we envision an inclusive governance model. As such, we plan to broaden the scope of governance, allowing not only ARA Lockers but also Fractal Holders to actively participate in shaping the protocol's evolution. This expansion will take AraFi's decentralization ethos a step further, aligning it with the broader vision of a fully community-governed platform.