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๐ฅ๐๐ซ๐ ๐๐๐ญ๐ฐ๐จ๐ซ๐ค ๐๐จ๐ฏ๐๐ซ๐ง๐๐ง๐๐๐
Flare is governed entirely by Spark token holders through voting.
Some decisions can be implemented on-chain such as:
changing the transaction cost or changing the collateral ratio and creation fee of a F-Asset.
๐งต[THREAD]
Flare is governed entirely by Spark token holders through voting.
Some decisions can be implemented on-chain such as:
changing the transaction cost or changing the collateral ratio and creation fee of a F-Asset.
๐งต[THREAD]
Other decisions such as changing network consensus parameters or more complex long-term updates require a code change.
The Flare white paper sets out a proposal, development and testing regime for manual changes which can be initiated and voted on by Spark token holders
2/
The Flare white paper sets out a proposal, development and testing regime for manual changes which can be initiated and voted on by Spark token holders
2/
To help implement that process & execute the agreed changes there will be a Flare Foundation. The foundation will be a non-profit.
It will be responsible for 5 key areas:
โข Grants
โข Investments
โข Research & Development
โข Education
โข Publicity & Partnerships
3/
It will be responsible for 5 key areas:
โข Grants
โข Investments
โข Research & Development
โข Education
โข Publicity & Partnerships
3/
The Flare Foundation will be highly transparent and generate two reports each year.
The foundation is intended only to take direction from the Spark token holders and not to set the agenda.
4/
The foundation is intended only to take direction from the Spark token holders and not to set the agenda.
4/
Written into the foundationโs constitution will be the obligation that if a governance vote agrees that the foundation no longer serves a beneficial purpose then the foundation must wind its activities down & burn all of its remaining token holdings at the earliest opportunity.๐ฅ
Source: flare.ghost.io/theflarenetworโฆ
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