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IV.4 The governance DAO
The governance DAO is used by the community to vote for or against several proposals through a governance token.
These proposals can be for any important decision regarding the Prometheus Protocol.
Examples:
- Accepting or refusing to invest part of the investment treasury on an investment product
- Allocate a budget to the development of a new feature
- Giving a team member power over the protocol funds
Or any other decision that affects the community.
Each node creation allows you to receive governance tokens ($gPHI).
You can add $gPHI to your wallet:
0x4A0B49D360aCCBdcB007532B33e9fCfF6c2d5400
- If you create a node of 100 $PHI you will receive 4 $gPHI;
- If you create a node of 50 $PHI you will receive 2 $gPHI;
- If you create a node of 25 $PHI you will receive 1 $gPHI;
- If you create a node of 1 $PHI you will receive 0.04 $gPHI.
In the event that the protocol has to create a new generation of nodes that will cost less $PHI token, the ratio of gPHI given in regard to the different tier nodes will be kept.
For example: if the price of the 100 $PHI node is reduced to 75 $PHI, you will still receive 4gPHI; if the price of the 50 $PHI node is reduced to 37.5 $PHI, you will still receive 3 gPHI and so on for the other tiers.
The governance token ($gPHI) cannot be sold or transferred, it’s a right given to you by the protocol forever.
Unlike other DeFI protocols, we do not believe that the concept of democracy and the right to vote can be equated with a traditional asset that can be bought and sold. Nor do we believe that a market price can define the value of this right.
Join our snapshot in order to vote:
Last modified 1yr ago