👨‍👩‍👧‍👦Governance

What SummerTime governance might look like (TBD)

SummerTime Finance will begin with centralized control of the protocol (such as choosing which tokens to enable or add for lending & borrowing, initial NFTs glossary). Over time, it will transition to a whole community & stakeholders' leadership and control.

We anticipate democratizing the following rights in the protocol:

• The ability to increase or reduce the SHELL debt ceiling

• The ability to list new or remove defunct LP token pools to borrow against

• The ability to increase or decrease the debt-collateral ratio of different LP tokens

• The ability to set the appropriate withdrawal fees (if any)

• The ability to update the dynamic interest model and its min & max percentages

• The ability to set the appropriate liquidation fee percentages

• The ability to update the Oracle addresses & techniques

• The ability to withdraw the reserve of a token

• The ability to choose a new admin, such as a DAO controlled by the community; because this DAO can itself choose a new admin, the administration can evolve based on the decisions of the stakeholders

• The ability to make community and DAO treasury vault decisions

• The ability to upgrade to the system's modular parts or the entire system

• The ability to add new NFTs with new capabilities or use cases within the platform, or who knows, externally created NFTs to be accepted, such as, e.g. crypto punks

  • More info on this later (it will be a great surprise)