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Summary
Governing Blue Lotus requires awareness, ongoing participation and constant change.
Blue Lotus Governance's goal is to create a bombardment point where the growth, sustainability, and security of the protocol take precedence over individual stakeholder goals.
In the protocol, the governance of the BLUEG Token defines the rules for market participants, with the aim of improving the challenging condition of the governance framework by improving the relative abilities of people to know and shape these limits. This will also be done through more informal supports, such as open community and governance meetings, the BLUEG improvement proposal process, and forums that encourage communication between stakeholders.
The new governance system will be managed by the community, where you, as the holder of the Blue Lotus governance token (BLUEG), will be able to suggest, debate, implement, regulate and maintain what encompasses rules, regulations, changes and actions; Likewise, if your survey is successful in the governance process, you may add support for a new asset, change the guarantee factor of an asset, change the interest rate model of a market or change any other parameter or variable of the protocol. Proposals are executable code, not suggestions to be implemented by a team or a foundation.
It is a living document meant to be owned, modified and applied by the community.
Participation begins with the token described above called Blue Lotus, BLUEG. Blue Lotus (BLUEG) token holders are responsible for keeping the ecosystem secure. This means addressing the risks associated with the correct and safe operation of the protocol. These risks may include:
- Technical issues with smart contract implementation
- Oracle problems.
- Cryptoeconomic governance attacks by malicious BLUEG token holders.
Last modified 1mo ago