Governance will be managed by Snapshot, an efficient and well known decentralized voting system, and Tally, a platform to deploy and operate DAOs.
More specifically, Snapshot is “an off-chain gas-less multi-governance client with easy to verify and hard to contest results.” while Tally is “a DAO operations platform that helps people start, join, and grow decentralized organizations.”
To integrate with Snapshot, our protocol will need to add a record on ENS to allow votes to be viewable at the created ENS address and either a governance token and/or NFT for voters to be eligible to vote.
To integrate with Tally, we will follow the deployment guides within their docs on docs.tally.xyz.
Therefore, at first, governance will be handled by the protocol admin’s multi-signature wallet.
However, an official governance token with fleshed out tokenomics determined after careful financial/regulatory consideration with the protocol’s stakeholders is suggested over the prior.