🤝Governance

Community-first.

Governance Structure

The purpose of this governance framework is to outline the required governance processes for Synonym Finance DAO. This framework will ensure that all members of the DAO have a clear understanding of how the governance system works and how proposals can be put forward and voted on.

Phase 1: Synonym Board Meeting (SBM)

Proposals will start in the SBM phase. These are proposals that require feedback and are posted on the Commonwealth forum. SBM proposals must have a 24 hour minimum and 48 hour recommended discussion phase before moving forward. During this phase, all members of the Synonym Finance DAO are encouraged to provide feedback, suggestions, and any concerns related to the proposal.

Phase 2: Synonym Board Proposals (SBP)

Once the required duration for the SBM proposal is over, we have the SBP phase. These are finalized proposals ready for implementation and will be reposted on Commonwealth with any revisions (if necessary) based on feedback from the SBM phase. It will also be posted on Snapshot for voting, which requires a 48 hour minimum and 72 hour recommended voting phase.

Phase 3: Implementation

If the majority of Snapshot votes are in favor of the SBP and the quorum is met, the proposal will be implemented.

If the majority of the Snapshot votes are against the proposal and/or if the quorum isn't met, the SBP will not be considered closed and will not be implemented.

Proposal Removal:

Proposals that are unreasonable or attempt to harass or troll others will be removed. This is to ensure that the Synonym Finance DAO remains a positive and productive space for all members.

Types of Proposal:

• Proposal to update risk parameters of an asset;

• Proposal to list/remove the asset;

• Proposal to allocate $SYNO Emissions to the asset;

• Proposal to update SYNO/tSYNO/vlSYNO tokenomics;

• Others that will contribute towards the future growth of the protocol.

Voting

• SYNO may be converted into vlSYNO form, which entitles the holder to participate in key governance processes, to make sure that the governance process is in the hands of the people that have long-term alignment with the protocol.

• tSYNO holders are able to participate in key governance processes as well, due to the 15 month staking timeline.

• For the avoidance of doubt, the community does not have legal control over any matters relating to the Company (or any of its affiliates) or any of its assets, or any of its affiliated companies (including without limitation the selection of governing board of the relevant company, over corporate matters, development direction, specific projects, or deployment of that company's assets, which shall be the final responsibility of the governing board of the relevant company).