Governance
Introduction
The Renec Lend Community is a decentralized collective of token holders and contributors who collaboratively shape the protocol's future through a structured governance process. This community-driven approach empowers participants to propose, discuss, and vote on key changes, promoting that the protocol's evolution reflects the collective interests of its members.
To ensure transparency, fairness, and community-driven development, Renec Lend has employed a decentralized governance model, where decisions are made collectively by the staked RELEND token holders.
Governance token: RELEND
The RELEND token serves as the primary governance token for Renec Lend Governance. Token holders must stake at least 1 RELEND token to participate in the governance process. Staked tokens grant voting power, proportional to the amount staked.
Governance Structure
Staking and Voting Power
Staking: To participate in governance, users must stake their RELEND tokens in the designated staking contract.
Voting Power: Staked RELEND tokens grant voting power. The more tokens staked, the greater the voting power.
Governance Proposals
Governance proposals are the proposals collected from Renec Lend community and created by RENEC Foundation. Proposal can cover a wide range of topics, including but not limited to:
Protocol Parameters: Adjusting interest rates, loan-to-value ratios, and other parameters.
Fee Structure: Modifying fees charged for borrowing, lending, and other protocol activities.
Protocol Upgrades: Implementing new features, improving security, and optimizing performance.
Treasury Management: Allocating funds for development, marketing, and community initiatives.
Emergency Measures: Responding to unforeseen circumstances and making critical decisions.
A proposal can only pass if it meets these requirements:
Min execution vote weight: the minimum vote weight to execute the proposal => requires 10,000 vote weight
Approval quorum: percentage of 'for' votes for a proposal to successfully pass => requires 60% on total votes
Vote differential: percentage of 'for' votes needed over 'against' votes for a proposal to successfully pass => requires 1%
List of proposal status:
Voting: proposal is open for voting
Canceled: proposal does not meet Min execution power + reach End date
Defeated: proposal does not meet Minimum quorum or Vote differential + reach End date
Passed: proposal meets all Min execution power, Minimum quorum and Vote differential + reach End date
Executed: proposal has been executed
Community Participation
Active community participation is essential for the success of Renec Lend. Staked RELEND token holders are encouraged to:
Stay informed about protocol developments and governance proposals.
Participate in discussions and provide feedback on proposals.
Vote on proposals to shape the future of the protocol.
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