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WYND DAO and Governance

In the initial phase, all deployments will be done by the WYND Foundation, which will also manage the contracts. This work will be handled by a five-member multisig designed to incubate the DAO until it is entirely up and running.

Shortly after the airdrop, we plan to launch a token-weighted governance contract, which will constitute the basis of the DAO. It will use a modified version of Curve’s veCRV design, such that people may bond their $WYND tokens for different lengths of time, and the longer the tokens are staked for, the more voting power they have (reflecting commitment).

Once the WYND DAO is established with significant participation, the WYND Foundation will hand over control of the WYND token contract (allowing it to mint according to the pre-defined schedule (see section 2.3). The clawed-back unclaimed airdrop tokens will also be sent to a “community pool” governed by the WYND DAO.

Initially, the WYND Foundation will retain a “veto” right on any proposal passed by the WYND DAO to ensure there are no governance attacks. This is a temporary situation of several months and is designed to prevent attacks targetting low-cap tokens. The WYND Foundation cannot pass any proposal or modify any protocol, only prevent dangerous modifications.

Once the WYND DAO is fully running, it should engage in activity beyond the scope of this white paper but aligned with the vision defined in the first section. The WYND Foundation aims to cultivate an active community forum to discuss such ideas.

Details on the exact implementation of the voting will come in a future version of the whitepaper. Still, it will be based on the DAO-DAO design, incorporating veCRV elements.

Staking WYND