👫Governance

By staking OYL, you can exercise your voting rights. Various matters concerning the operation of the ecosystem are decided through voting and executed through the DAO.

dApp Distribution Ratio
Transaction Fee Rate
Distribution of the Transaction Fees
Treasury Usage Plan
Decision on new projects
ETC.

Voting Rights

Voting rights are granted to users who lock up their staked OYL for a certain period of time.

Locking Period	Voting Power
1 month	1
3 months	4
6 months	8
1 year	16
2 years	32
3 years	64

Phased Deployment

Life3 pursues to have a completely decentralized organization and operations but plans to introduce the governance system in phases.

Phase	Contents
Phase 1 (Team)	In the early stages of the ecosystem, many unexpected problems occur, and a quick response is important. For this reason, decisions are made mainly by the team in the early stages.
Phase 2 (Hybrid)	After the ecosystem has stabilized to some extent, proposals can be initiated and passed through governance voting. From this point on, we plan to minimize the team's involvement, but we retain the authority to intervene urgently in case of unforeseen events or circumstances.
Phase 3 (Governance)	As the final phase, all powers of the DAO are exercised only through governance.

Phase

Contents

Phase 1

(Team)

In the early stages of the ecosystem, many unexpected problems occur, and a quick response is important. For this reason, decisions are made mainly by the team in the early stages.

Phase 2

(Hybrid)

After the ecosystem has stabilized to some extent, proposals can be initiated and passed through governance voting. From this point on, we plan to minimize the team's involvement, but we retain the authority to intervene urgently in case of unforeseen events or circumstances.

Phase 3

(Governance)

As the final phase, all powers of the DAO are exercised only through governance.

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Last updated 1 year ago