The OptyFi Protocol is a decentralized application owned and governed by a decentralized autonomous organization (the “OptyFi DAO”) whose members are the holders of the Protocol’s native OPTY token. OptyFi DAO members (aka “Governance”) are entitled to make all major decisions regarding the development and operation of the Protocol.
This document proposes an initial Governance System for the DAO including mechanisms for self-amendment under Governance authority. Upon launch of the Protocol and the initial OPTY token distribution event, Governance may choose to accept or amend this Governance System or implement a completely different governing model.
While Governance is entitled to make all major decisions regarding the development and operation of the Protocol, from a practical stand-point it is recognized that Governance may need to delegate responsibility for implementing (some of) these decisions and for performing daily operational duties. Specifically, Governance will delegate Operators to implement Governance decisions and to operate the Protocol under guidelines determined by Governance.