Governance is an integral aspect of Yamfore. The Yamfore protocol, similar to many other protocols, uses a token weighted voting process. This fairly gives the individuals with the most monetary stake in the protocol a larger say in the development of the protocol. This also creates a necessary threshold for crucial proposed changes to the protocol, requiring the true consensus of a large enough percentage% of $CBLP token holders to initiate / approve these proposals. This means that only $CBLP token holders are in complete control of the protocol’s lending parameters / development direction. These protocol parameters are only able to be altered via on-chain governance, inbuilt into the protocols smart contracts. This ensures the $CBLP token holders are able to adjust the protocol’s parameters in a democratic & trustless fashion without the need of intervention from further external development input / reliance on any entity to perform the task.
Below is an illustration highlighting the parameters able to be altered via on-chain governance by $CBLP token holders.
$CBLP Governance

Governance Process

Governance Process
Step 1 | Proposal Deposit: A wallet containing / delegated a certain % of the total circulating supply of $CBLP tokens can propose a governance action.
Step 2 | Voting Period: The period of time $CBLP token holders are given to vote on an initiated proposal.
Step 3 | Quorum: The required minimum percentage % of $CBLP tokens staked in the voting process to validate the results.
Step 4 | Consensus Threshold: The required minimum percentage % of yes votes to approve the proposal.
Step 5 | Execution Delay: The amount of time before the protocol implements the passed proposal.
Step 6 | Changes Complete: The process is completed and the proposed changes are implemented!🎉
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