NEP Governors will be responsible for the setting and maintenance of NEPRIM system parameters

Role of Governance

The NEP token will aim to coordinate decentralised governance by incentivizing stakeholders to act in the best interests of NEPRIM. NEP holders will be incentivized to maximise the overall growth, use and stability of NEPRIM given:
Governance decisions will be initially be determined by the core team, but will be shifting to a community-based proposal system as NEPRIM decentralises. Discussion of governance topics will take place in our discord and forum, with token holders signalling their vote preferences on snapshot. Only changes that have passed through a snapshot vote can be implemented.
Once fully built out, the proposal system will automatically govern the parameters of and execute actions in NEPRIM, encompassing the:
    addition/removal of niAssets;
    addition/removal of sbAssets and their max weights,
    addition/removal of underlying lending markets for sbAssets,
    redemption and minting fees;
    selection of oracles (if needed);
    upgradability of system modules, such as Re-collateralisation and Governance;

Distribution of NEP

Robust governance includes a large and decentralised stakeholder-base. A single entity or a small group of closely aligned entities would centralize NEPRIM and potentially create a dangerous single point of failure. It will be a core project aiming to ensure a broad NEP distribution so that NEPRIM becomes sufficiently decentralised as soon as possible.
The NEPRIM Public Rewards, Staking, and Grants Program will be our first steps in this direction, rewarding those who positively contribute to NEPRIM.
Last modified 8mo ago