Governance

Governance of the GwaySBC Protocol

Use of the GwaySBC DAO (GSBC)

The GwaySBC Protocol is governed by its own unique token called the GwaySBC token. Holders of this token have the privilege to cast their votes on proposed changes to the GwaySBC Protocol, thus enabling them to play a significant role in shaping the direction of the protocol. It's worth noting that the opportunity to submit proposals for a GwaySBC vote is not limited to token holders, as anyone can submit their ideas for consideration.

Governance Token (BIT)

Governance Discussions (Forum)

  • Once an idea has gained sufficient support from the community, it becomes eligible for submission and subsequent voting.

  • If an idea receives enough support from the community, it can be submitted for a vote.

  • For an idea to be implemented, a development team must adopt it and finalize the code, which will then be audited and submitted for deployment by the multi-sig administrators.

GwaySBC Holder Responsibilitie

GwaySBC holders can vote to do the following:

  • Change the Risk Parameters of one or more existing collateral asset types.

  • Choose the set of Oracle Feeds.

  • Choose the set of Emergency Oracles.

  • Upgrade the system.

  • And More: Upcoming Details

Voting templates

Main templates (until we become bigger): Off-chain voting with multisignature template. It is important to note that any changes to the governance variables of the GwaySBC Protocol will be deployed manually with full security measures in place. This means that the changes will be thoroughly tested to ensure that there are no bugs or other security issues before they are implemented. Furthermore, it may be possible to bundle multiple changes together and implement them at once after testing, rather than making separate changes one at a time. This approach can help to streamline the implementation process and minimize the potential for errors or complications.

   While it may be possible for individuals to acquire multiple GwaySBC Governance Tokens during a presale or other means of obtaining them, each person will only be able to use one token for voting. This policy ensures a fair and democratic voting process, where each individual has an equal say in the decision-making process. Limiting the number of tokens a person can use to vote prevents any individual or group from exerting undue influence over the decision-making process.

   Project team is working on the idea of creating a pool of real people for voting, which is intended to increase community consensus and improve decision-making. This pool may be comprised of individuals who are representative of the wider community or who have been selected based on certain criteria. By using a pool of real people for voting, the protocol aims to ensure that decisions are made with the input and agreement of a broad range of stakeholders, rather than being controlled by a small group of individuals. This approach can help to build a stronger, more engaged community that is invested in the success of the project.

   The governance community of the GwaySBC protocol will receive % of the protocol's income by actively participating in the voting process. This incentivizes engagement and ensures that the community has a say in how the protocol is managed and developed. By encouraging participation, the protocol can benefit from a diverse range of perspectives and ensure that decisions are made in the best interest of all stakeholders.

   GwaySBC Governance Token (GSBC) it's a Hybrid DAO (Decentralized Autonomous Organization) that utilizes multiple pool voting systems to make decisions in various areas, such as economic and development decisions e.t.c. This approach is being taken because not everyone within the organization may be skilled or knowledgeable enough to make sound decisions in all areas.

The GwaySBC Governance Voting Portal will start after the presale of 100% of the MAX_SUPPLY of 1,000,000 GSBC.

Our voting and governance portal is currently under development: Upcoming Details…….

Last updated