HIP05 - What Policy team is, and how they work [Finished]

godwin · August 8, 2022, 3:26am

Summary

This post proposes the principles and roles of the policy team involved in protocol management.

Set the referral terms: add the referrers’ affiliate address, notify the referrers, and apply preferential rewards to the referrers.
Set the partner terms: add the affiliate addresses of the partners to a special list, notify the partners, and apply preferential rewards to the partners.
Create and sell a new basket of HECTA with discount or discontinue an existing basket.

HECTA with discount:
The policy team set discount rate for HECTA: Users can buy HECTA with an approved discount rate by BUSD or other supported tokens.
The policy team monitors liquidity and adjusts the protocol parameters to ensure the stability of HECTA liquidity.
The policy team also monitor the protocol parameters according to the purpose of treasury use at a specific time point or period. The protocol parameters are announced before HECTA sale is opened; it is including:

Vesting Time
Capacity: The volume by HECTA or by BUSD can be sold
Max Payout: The maximum number of HECTA that can be sold during the deposit period.

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After off-chain polling, a vote on-chain will be put up at 10:00 GMT+0 on 09/08/2022 and will be up for voting in 48 hours.

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