BenFen's governance model is designed to be open, transparent, and decentralized, ensuring that the future of the ecosystem is collectively shaped by its community. At the heart of this model lies the BenFen DAO, a fully on-chain governance system.
Core Design Principles
BenFen DAO is designed as a robust and flexible framework that empowers any token holder to participate in on-chain governance at low cost, helping safeguard both personal and ecosystem-wide interests. Key features include:
-
Built on Move language: The governance system is implemented using Move smart contracts, leveraging its strengths in formal verification and resource safety to ensure secure and reliable governance logic.
-
Low Entry Barrier: Any user can participate in governance by staking tokens in the voting pool, with voting power proportional to the amount staked.
-
Configurable & Adaptive: DAO parameters (e.g., quorum thresholds, voting durations) are configurable to meet the evolving needs of the ecosystem across different phases.
How to Participate
Users can access the DAO interface directly via the BenFen blockchain explorer:
-
Official DAO Portal: BenFen DAO
Working Principle and Status of Proposals
A proposal will go through the following standardized life cycle from creation to final implementation:
-
[pending]: Any user can create a proposal by staking tokens. The proposal enters a pending period for public review and discussion.
-
[active]: After the pending period, the proposal enters the active voting phase. Token holders may lock their tokens into the voting pool to cast support or opposition votes.
-
[defeat]: If opposition votes outnumber support votes, or if support votes fall below the minimum threshold (e.g., 10 million votes), the proposal fails.
-
[agree]: If the proposal passes, it awaits a scheduled execution time to be set by the administrator group.
-
[queued]: Once an execution time is set, the proposal enters the execution queue.
-
[executable]: After the waiting period, the system automatically detects executable proposals and performs the required logic.
-
[extracted]: The proposal has been successfully executed and is marked as completed.
