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Tonpound DAO is a community of users that hold Tonpound’s governance NFTs (gNFTs) and actively participate in the protocol’s development and administration. DAO members exercise their voting power to decide on issues such as changing the fee size or adding new assets to the supported collaterals.
Tonpound will initially be governed by the developer team, gradually transitioning to a full DAO in 2 years from the project launch. While the team will keep some of the initial voting power, it will be diluted by other gNFT holders in the long run.
The voting process will be managed on the Vote interface of the Tonpound DAO. All gNFT holders are eligible to participate receiving the following multipliers for voting power depending on the gNFT type: topaz - 1 vote, emerald - 2 votes, diamond - 3 votes.
If a user holds multiple gNFTs on the wallet, only one gNFT of the highest tier is considered during the vote.
A part of Tonpound’s Supply fees is distributed among gNFT holders as reward for their participation in the DAO. The type of the gNFT owned affects the reward multiplier: topaz - x1, emerald - x11, diamond - x120.
During the first year after the protocol launch, users must a) hold a fully upgraded gNFT and b) provide at least $100 worth of liquidity to Tonpound to accumulate the rewards. If both conditions are met, gNFT holders can claim their accrued fees in 1 year after the protocol launch. Starting from the second year, providing liquidity will not be necessary anymore.
The requirement described above is added to support the liquidity in the early stages of the protocol. The provided funds are not subject to a lock-in period and can be withdrawn at any time, but doing so would also stop the accumulation of rewards.