Yanda is a DAO.
Yanda protocol is a Decentralised Autonomous Organisation (DAO) using ERC20 smart contracts. The Yanda Token (YND) allows its holders to access the protocol and unlock features, to earn rewards, to stake it to help validate transactions and earn a return, to participate in the governance with the ability to propose changes and to vote.
Each and every wallet that contains an amount major or equal to 5000000 YND (G) can create a proposal that will influence - if successful - a method of the ERC-20 token.
Once the proposal is created, there will be a 1-week voting delay period during which the Yanda community can get acquainted with the content of the proposal. The community can vote by delegating their voting power before the delay period ends.
During the voting period, the address will be able to vote and their voting will be weighted by their amount of delegated YND.
Voting weight = YND delegated / YND total supply
Once the voting period ends if the proposal reaches or passes the quorum successfully then the proposal gets executed by the proposer through a governor smart-contract interaction.
In order to participate in a community proposal with a vote, token holders can delegate their voting power to themselves or to another address.
In order to prevent flash loans from attacking governance, the voting power is always calculated with 3 blocks indent.
In order to avoid and protect the protocol from malicious takeovers from large YND token holders (that have greater voting power), the Yanda protocol has been designed with different quorum levels (G). You can refer to the list below for the initial quorum levels linked to the methods that can be changed by governance vote.
- 50% grantRole (T);
- 50% revokeRole (T);
- 50% updateQuorumNumerator (G);
- 25% addService (T);
- 4% any other methods not specified above.
The quorum is calculated on top of the YND total supply.