Governance Model

Foundation

The foundation provides financial and technical support to help the sustainable development of the protocol. It does not participate in the daily governance, but has the ultimate decision under special circumstances.

Council

Council members are determined by staking a large number of SYP which is ranked in the top 20. The council can vote for the members of the board and has the power to nominate members and remove members. The employment period is half a year, and members need to be reelected after the period. Council members have the right to mint a special closed SAP pool.

Board

The board (6 persons) have salaries and need to review the submitted items. The approved projects are submitted to the community for voting. The board is elected by the council. The employment period is half a year, and members need to be reelected after the period.

Community

Community members could stake their SYP tokens to vote and elect representatives, besides earning staking yields. Meanwhile, they could take part in the governance by making proposals and voting for others’ proposals.

Representatives

3 representatives are elected by the community. They have the same right as board members to audit new SAP proposals. And they also have a monthly pay.

Last updated