Trava Governance Explanation
Trava Administration last edited by Administration
With Trava Governance, we provide our users with decision-making power. By doing so, we gather the crowd’s wisdom and give users the chance to speak up and have the authority for the whole community’s benefit. In the future, we would like to transfer completely the management decision to our users — our community. We believe that community is the key to creating real value for our project.
In addition to decision-making on our operational and benefit-sharing plan, Trava Governance is determined to be a perfect stepstone for those who desire to be pool owners in our lending protocol in the future, as it is a useful process for pool owners to evaluate their decisions for running our lending pool. Thus, this improves their decision-making capacity and helps them make better decisions for their own lending pool in the future when the pool creation function is activated.
In the long-term, we’ll improve two versions of Trava Governance. Version 1 allows users to decide on Trava Lending pool development as its operation and adjustment direction. In version 2, besides the benefits received in the first one, users gain a substantial right to take responsibility for managing the initialization of the users-owned lending pools and the operation and interaction among these lending pools in Trava protocol.
Trava Governance Version 1
In version 1, based on the D.A.O. structure, Trava finance enhances community engagement by letting users make decisions about the operation of the Trava Lending Pool. For example, these users will determine what assets should be put in or what collaterals are allowed in the lending pool, etc.
In this case, there are five stages of gradually improving the new model, including:
Discussion ==> Proposal ==> Voting off-chain on the Snapshot ==> Voting on-chain ==> Execution
In this process, the decision-making rights are based on two main factors: The amount of locked TRAVA/ rTRAVA and the period of locking these tokens. Specifically, users need to lock their Trava token to ensure their loyalty and responsibility to the project. They’ll have voting power if they do that; the more Trava they lock, the more power they attain. This voting power also corresponds with the locking period thus it will be lessened over time.
Implement the new model as Trava Governance; we want to build a strong community with three key features:
The Future scope — Trava Governance Version 2
In version 2, users could also have on their hand the right to decide the sharing revenue proportion. We plan to apply the new version of Trava Governance in Quarter 3 this year. Once it is implemented, users could exchange the voting power by buying or selling them on a secondary marketplace. Users have another gateway to attain voting power for participating in the TRAVA governance process.
Users who participate in Trava Governance Version 1 will have the right to decide the development process of Trava Governance Version 2.
Read more detailed information via resources as links attached below:
[Video] Introduction to Trava Governance: https://youtu.be/akyLs2y6gOk
[Blog] Trava Governance Vision in the Protocol:
[Video] Trava Forum UserGuide: