Governance and Community

Decentralized Governance Structure OpenFi is committed to establishing a fully decentralized governance system, where all community members holding $NEC tokens have the right to participate in the development and decision-making of the protocol.

Governance Token $NEC Design:

• Every $NEC holder can vote on proposals and suggest ideas in the governance forum.

• DAO Structure: Core parameters and strategies of the protocol are determined by the OpenFi DAO, including bond discount parameters, staking release cycles, and treasury asset allocation.

• Core Governance Functions: These include, but are not limited to, fiscal budget allocation, protocol parameter adjustments, new module deployments, and the review of partnership projects.

OpenFi's governance goal is to ensure the protocol's security and efficiency while fully implementing decentralized autonomy, encouraging community members to actively participate in the governance and optimization of the protocol.

Community Participation Mechanism and Proposal Process To ensure the openness and sustainability of the governance process, OpenFi has established a transparent and clear proposal process:

• Community Proposal Stage: Any $NEC holder can propose initial ideas in the governance forum.

• Feedback and Discussion Stage: A public discussion period will take place over several days, coordinated by core contributors to refine details.

• Formal Proposal Submission: A certain amount of $NEC is required to initiate on-chain voting.

• Voting and Execution Stage: On-chain snapshot voting will be used, and after the voting period ends, the passed governance content will be automatically executed.

The governance mechanism supports users in submitting major proposals across communities, and OpenFi encourages various roles such as technical developers, project operators, and liquidity providers to collaborate in the governance ecosystem.