FAQ
Some frequently asked questions
A decentralised autonomous organisation (DAO) is a self-governing and decentralised system that allows its members to make collective decisions without the need for a centralised authority.
Derivatives are a foundational component of any economic system, allowing risk to be transferred between market participants.
Lyra governance is a system that enables LYRA holders to govern the DAO using the LYRA token and the governance smart contracts. You can read more about governance here.
Governance is required for the aspects of a protocol that require human input (i.e. things that cannot be automated). There are two main areas of any project that require such input:
- 1.Protocol Administration
- 1.Deployment of smart contracts
- 2.Setting system parameters
- 2.Treasury Management
- 1.Funding the maintenance and improvement of the protocol
Last modified 2mo ago