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Governance

Interim Governance Rules

In order to get Hexagon Finance governance kicked off, interim governance rules are established.
Governance rules will be developed over time according to community proposals and votes, while the goal is 100% community-controlled governance. These rules have been set as temporary rules by the Hexagon Finance team in order to get governance kicked off, they will evolve over time.

FLAKE as the governance token

As a governance token, FLAKE is used by its holders to vote on changes to parameters inside of the Hexagon Finance Protocol, like Protocol Fees, liquidity mining incentives, distributions and many others. Voting is also used to make decisions on the non-technical aspects of the protocol like governance processes, and even electing individuals to fill specific roles.

Process

Governance will take place primarily through the official discussion forum and through Snapshot.
The governance process begins on the Hexagon Finance Governance Forum (under construction) where proposals are first submitted for discussion. If the community signals its interest and any necessary modifications to the proposal are made, the proposal is submitted to Snapshot for voting.
During the interim governance period, only Core proposals are binding. Core proposals are those made by addresses whitelisted by the Hexagon Finance team.
If a Snapshot proposal passes and no code is required to be implemented, the approved action will be taken directly by the team. If code deployment is required, the code will go to audit if necessary, and there will be a period for public review of at least one week before the code is deployed.

Criteria for a Valid, Binding Vote

  1. 1.
    Proposals will only be considered valid if at least 10% of all qualified FLAKE participants are included in the vote.
  2. 2.
    Votes will be scored as 1 FLAKE = 1 VOTE. This includes FLAKE staked in the Hexagon Finance whitelisted protocols. 1 veFLAKE will have the equivalent voting power of the underlying FLAKE.
  3. 3.
    A simple majority is required for a winning vote. For votes with multiple options, the rules must be specified clearly in the proposals.
  4. 4.
    The voting period must be at least 2 full days and is recommended to be no longer than 7 days.
  5. 5.
    Proposals must be in English. Any other translation is welcome.
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Outline
Interim Governance Rules
FLAKE as the governance token
Process
Criteria for a Valid, Binding Vote