Skip to main content

15. Governance & Upgradability

  • Parameters: fees, limits, rail risk weights, oracle sets, proof policies, bond schedules.
  • Upgrades: contracts behind timelocks with public proposals. Emergency pause is limited to narrow scopes, with automatic sunset.
  • Two layers: protocol parameters and upgrades on Base are governed by $P2P holders through an on-chain Governor (Compound Bravo style, with snapshot quorum, proposal threshold, and integrated timelock). Token minting, supply changes, and treasury allocation are governed on Solana through MetaDAO's on-chain decision-market, where the token is issued and the treasury is held.
  • Today: protocol parameters and upgrades are operated by an admin multisig with published members and constraints, and the on-chain Governor is deployed on Base. Some parameter setters, such as those on the protocol configuration facet, already accept either the Governance Diamond or a super-admin as caller, while the remaining setters are super-admin gated during the transition.
  • Transition: authority over protocol parameters, upgrades, and roadmap moves to $P2P holders through the on-chain Governor in staged phases. The phases progress from an admin veto, to the DAO acting as the primary path with an admin backup, to DAO-only control with a time-limited admin emergency backstop. Treasury allocation and any change to token supply are decided through MetaDAO's decision-market governance on Solana.