The Uno Re protocol is slowly transitioning towards a fully decentralized community-powered protocol that is governed by members. Through protocol governance, members can propose and vote on changes to any aspect of the protocol. These decisions determine the protocol's future operations.
Governance process and modules
The Uno Re DAO's governance process consists of mainly three steps.
Step 1: Vote Lock $UNO
Before proceeding to engage in any governance activities, users have to first vote lock their $UNO tokens and get veUNO governance voting power using the Vote lock app. Detailed instructions can be found here.
Step 2: Discussion Forum
Before proceeding to vote, each discussion must ensure that it is highly likely that a change will pass the voting. For DAO members, it may start with Discord or Telegram. After discussion within a Forum post, certain selected members from the DAO will be able to start a voting process. Detailed instructions on how to use the Discussion Forum can be found here.
Step 3: Snapshot Voting
After getting a rough consensus about a topic, one may create a new vote on Snapshot. On Snapshot, veUNO holders can vote and signal their will.
Key Functions of the DAO
Governance is the core of decentralization's driving force. Below is the list of items to be determined by a governance vote.
New product listings, pauses and delistings
New SSIP pool launches
Reward Block rate upgrades
Protocol Parameter upgrades (Ex: SCR, MCR)
Election of Olympus Council members
Allocate DAO treasury
Treasury Funds management
The Uno Re Olympus Council is an exclusive division within the Uno Re DAO's for emergency decision-making events.Some of the key functions like contract upgrades can be executed by Olympus council members, which weigh prompt actions in case of extraordinary situations. The Olympus council members would be part of the key multi-sigs held by the protocol as well. In order to achieve maximum decentralization the selection of Olympus council members will be done on a rolling basis per governance epoch, subject to election votes from veUNO holders.
The DAO members elected to be part of the Olympus Council will receive monthly payments from the DAO treasury holdings in return for their contributions to the DAO.