DAO Governance

Basic DAO will be introduced after the genesis stages of Basic. Rushing into a DAO governed protocol can be limiting with regards to strategic moves. It is the goal for Basic to be governed by its users.

As a decentralized lending and borrowing platform, users who deposit assets desire higher interest rates, and users who borrow assets desire lower interest rates. A market mechanism that finds an optimal solution is required, which will form the core purpose of Basic DAO governance.

Basic deposit and loan users, holders, LP providers, and development teams have their respective rights and obligations. Important decisions on Basic will gradually be redefined and verified through the DAO governance process. In essence, the Basic holders will decide the long term development strategy for Basic.

Within this governance framework, the development team is responsible for system maintenance to ensure safe, reliable and sustainable operation, and to provide innovative and improving products. The community decides the setting of key operating parameters through DAO voting.

DAO Governance

Basic welcomes any members or parties who are willing to grow and develop with us to help achieve further success. Basic DAO evolution may refer to the DAO governance models of more mature projects, such as Curve.

The Basic Genesis Team has always adhered to the principle of transparency and releases all the information about the protocol.

Voting Rules

These will be shared, discussed and agreed at an appropriate time.