Governance is the process of interaction and decision-making among the stakeholders of a given project, in this case the YF Link DAO. It determines how decisions are made and where the community wants to direct funds from the YF Link treasury. It is also the way rules, norms, and actions are proposed, structured, sustained, regulated, and upheld.
$YFL token holders, who are the primary stakeholders of the system, make decisions by voting on project proposals. In addition, stakeholders participate in governance by engaging with the community and other stakeholders in places like the Discord, where consensus and support for proposals is built. Voting happens on two platforms:
For proposals with smart contract execution, the YFLink governance contract is used.
For all other proposals, the Snapshot page of YFLink is used.
Proposals are created to communicate any new project changes and provide a mechanize for the community to support or reject those changes. Guidelines have been established for presenting new ideas to the community in a clear and accessible manner for the members to make an informed decision. Proposals are posted on the YF Link governance forum. The creators of successfully passed proposals will be rewarded a flat fee of 1 (>50% majority) or 2 (> 66% majority) $YFL.