Voting/Governance
veLVLQ holder will be able to participate in governance decisions of the protocol by having power to change different parameters. At launch, LVLQ and veLVLQ are used for voting in Snapshot which if successful changes are deployed by team multisig. As the community grows, onchain voting will be put in place where only veLVLQ holder will be able to vote on protocol changes in decentralized manner. Users having more than 3000 voting power of veLVLQ can create proposal; there is no minimum of veLVLQ token amount needed to vote. The parameters are categorized in 3 different type:
Ownership votes, which control most functionality within the protocol. These votes require a 30% quorum (voting power divided by total voting power) with 51% support.
Parameter votes, which can modify vault parameters and propose new strategies to be deployed by LevelQ team. These votes require a 15% quorum with 30% support
Emergency votes, which consist of nine members, consisting of a mix of the LevelQ team and prominent figures within the DeFi community. Each member has one vote. Any member may propose a vote. A vote lasts for 24 hours and can be executed immediately once it receives 66% support.
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