🟣GOVERNANCE

The BOND Protocol is a public good owned and governed by $BND & $BNDc token holders ! Simple

Introducing $BND & $BNDc governance structure

May 16, 2022

$BND & $BNDc Governance

$BND & $BNDc holders are responsible for governing the BOND Protocol, which includes adjusting policy for the USDB stablecoin, choosing new collateral types, and improving governance itself. Anyone can be an $BND & $BNDc holder and all are welcome to come join us in shaping the future of DeFi.

Governance assets

A community-managed treasury opens up a world of infinite possibilities. We hope to see a variety of experimentation, including ecosystem grants and public goods funding, both of which can foster additional BOND FINANCE ecosystem growth.

Bond Finance will set the standard for automated liquidity provision: it is long-term aligned on-chain governance system.

Bond governance will be live in Oct 15 2022 12:00am UTC, although control over the treasury will be delayed until Dec 15 2022 12:00am UTC. Control over the Bond fee switch is subject to a 180 day time lock delay.

These grace periods provide the Bond community enough time to familiarize itself with the governance system, bring in a diverse and high-quality set of protocol delegates, and begin discussions and communications around potential governance proposals.

$BND holders are responsible for ensuring that governance decisions are made in compliance with applicable laws and regulations. To help facilitate this, the fee switch has been initialized to a contract $BND holders can use to vote on tokens for which they will collect fees. The community is encouraged to consult knowledgeable legal and regulatory professionals before implementing any specific proposal.

The BOND finance team will not participate directly in governance for the foreseeable future, although they may delegate votes to protocol delegates without seeking to influence their voting decisions.

$BND & $BNDc Responsibilities

$BND & $BNDc holders can vote to do the following:

Add a new collateral asset type with a unique set of Risk Parameters.
Change the APY of one or more existing asset types, or add new Parameters to one or more existing asset types.
Modify the $USDB Savings Rate.
Modify the $BNDc & $USDB Staking Rates.
Modify the $BNDc & $USDB voting irreducible minimum Rates.
Choose the profits from THE Bond finance assets.
Trigger Emergency Shutdown.
Upgrade the system.

$BND & $BNDc holders can also allocate funds from the Maker Buffer to pay for various infrastructure needs and services., including Dapps infrastructure etc.

The funds in the BOND FINANCE Buffer are revenues from Stability Fees, Liquidation Fees, and other income streams.

The governance mechanism of BOND Protocol is designed to be as flexible as possible, and upgradeable. Should the system mature under the guidance of the community, more advanced forms of Proposal Contracts could, in theory, be used, including Proposal Contracts that are bundled. Nonetheless, those revisions will remain for $BND & $BNDc holders to decide.

THE BND TOKEN GOVERNANCE STRUCTURE

$BND token enables community ownership and active stewardship of the Protocol. $BND holders govern the Protocol through an on-chain governance process.

Now $BND holders will have immediate ownership of:

Bond finance governance
$BND community treasury
The protocol fee switch
$BNDc & USDB

Initial governance parameters are as follows:

1 $BND (delegated) to submit a governance proposal
2 $BND required to vote 'yes' to reach quorum
7 day voting period
2 day time lock delay on execution

THE BNDc TOKEN GOVERNANCE STRUCTURE

$BNDc token enables community ownership and active stewardship of the Protocol. $BND holders govern the Protocol through an on-chain governance process.

Now $BND holders will have immediate ownership of: