The decentralization of protocol governance needs to be phased due to development prioritization. Upon protocol launch, the highest priority is to ensure positive performance and efficient adaptation to the ever-changing market. Leading the governance allows the Borabora dev contributors to implement constant improvements faster, further helping the protocol build a steady foundation.
When the protocol reaches a broad user base and can stably provide optimized experiences for all trades, elevating the degree of decentralization will be the new priority. Voting will be progressively introduced to the governance process, starting from major protocol updates polling, then expanding to comprehensive protocol modifications. In future phases, trust will be minimized as veToken holders are onboard to govern and shape the protocol into a better state.
Borabora Protocol Governance Scope
Borabora DAO multi-sig currently governs the Borabora protocol smart contracts, and the scope includes general operation, maintenance and emergency actions.
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Set underlying asset symbol string
Set underlying asset initial margin rate
Set underlying asset open / close fee rate
Set the address of on-chain oracle
Set fee rate for removing liquidity
Set who can execute emergency functions
Collect and distribute protocol fees
Enable / disable trading of specific assets
Enable / disable using specific assets as underlying assets
Enable / disable using specific assets for opening positions
Enable / disable using specific assets for shorting
Enable / disable using specific assets for adding liquidity