Presenting-- Maple Governance V1!
The LBP was the first step on Maple’s path to decentralization. Now with a circulating supply of our governance token, we’d like to implement a structured governance system that serves the needs of the community as it exists now. This governance structure serves as the baseline for Maple governance at this time and can be amended with proposals. We anticipate as the community changes and the needs of the protocol evolve over time that the governance structure will undergo many iterations. Total decentralization of the protocol is the long-term objective of Maple.
After conversations with active community members at the latest Community Call and on Discord, we have amended the initial proposal to increase the minimum $MPL holding requirements to vote to 25 $MPL tokens.
There were recommendation to implement Snapshot voting, however, there is currently a limited distribution of the governance token (at this time, recent token distribution was through the Balancer LBP). With the start of the Maple Liquidity Mining program this week, there will be a steady increase of tokens in circulation over the coming weeks. We recommend that in 90 days (halfway through the launch pool lockup period of six months), a community member proposes implementation of Snapshot as there will be a wider distribution of tokens held by users of the Maple protocol, whose incentives are aligned with the long-term success of the protocol.