For Governors
Underpinning the Furucombo ecosystem will be the governors, who are the participants of the community. The decentralized community will be able to protect the integrity of Furucombo through research, discussion, and on-chain voting.
The benefit of Furucombo Governors
You will have the right and power to decide the path forward - that is the beauty of DeFi.
You will be in charge of the Furucombo Treasury, and can decide how to use up to 70% of the proceeds through governance. The remaining 30% will be used for operation costs which include audit expenses.
If you are also a Furucombo Master, your reward as a Master will be boosted depending on the vCOMBO you have.
To be a Furucombo Governor
Anyone with vCOMBO tokens is a Furucombo Governor.
Once you lock your COMBO tokens, you will get vCOMBO in return.
You can choose the locking period - the longer you lock, the more vCOMBO you will get.
The vCOMBO token is non-transferable, but you could delegate your voting power to others.
The responsibility of a Furucombo Governor
The more vCOMBO you hold or get delegated from others, the more voting power you have. vCOMBO holders can vote and decide the parameters in the Furucombo protocol including:
Cube Listing and Delisting - including the listing policy for different types of cubes
The Furucombo Treasury and Reserve Management
Fee and incentive emission parameters
Underwrite insurance or buy insurance for all users
Grants for more cube developers
Lock COMBO in reserve to vCOMBO, and use this vCOMBO to support the activation of some cubes
Furucombo Treasury
Furucombo Treasury is where we park the proceeds of the Furucombo protocol. It will be a composite of COMBO/USDC LP tokens.
The revenue stream covers below components:
Usage Fee: A 0.2% fee applies to any transaction via the Furucombo proxy contract based on the initial fund, and not the transaction volume. The Governor can vote to decide the rates once the governance portal goes live. 20% of the fees will be shared with Furucombo Masters, and the rest 80% will go to Furucombo Treasury.
Performance & Management Fee: With the new pool combo system, we will charge a certain percentage of performance and management fees from end-users. 80% of the fees will be shared with Furucombo Masters, and the rest 20% will go to Furucombo Treasury.
Example on how to participate as a Governor
The first step is to get some COMBO tokens from open markets. For example, you can buy COMBO from Uniswap.
Stake COMBO to the COMBO Locking Contract, and you will get vCOMBO in return.
Access the governance portal with your vCOMBO, then you can create a proposal or vote for a proposal.
Interact with other members of the community to garner support and discuss ongoing proposals.
Release Schedule
Due to the nature of the DeFi space, expeditated development, unforeseen changes, or community feedback may cause these plans to change.
Subject | Status |
Launched | |
Launched | |
Governance Portal for Off-chain Voting (using Snapshot and COMBO to vote) | Launched |
Combo Locking Contract (stake COMBO & receive vCOMBO) | Completed |
Governance Notification System to keep every Governor updated | 2022 |
Governance Portal for On-chain Voting | 2022 |
Last updated