Governance
Redefining Community Engagement
Orion introduces Governance 2.0, a revolutionary approach to decentralized governance. This new framework is designed to enhance user participation, incentivize long-term commitment, and adapt dynamically to the evolving DeFi landscape.
Navigating with ORN and veORNIn this expansive galaxy, ORN serves as your spacecraft's fuel, crucial for embarking on governance missions. veORN, derived from this fuel, represents your influence and voting power in Orion's interstellar council. This analogy of a spacecraft journey will guide our understanding of Orion's governance mechanics.
Central to Governance 2.0 is veORN, which stands for Vote-Escrowed ORN. Users receive veORN by staking ORN tokens, with the amount of veORN depending on the quantity of ORN staked and the duration of the stake.
veORN: Your Spacecraft's Influence PowerveORN symbolizes the influence and decision-making power your spacecraft wields within the Orion council. The mechanism of staking ORN and earning veORN is akin to fueling your ship, and committing its availability over a certain period of time to the Orion cause.
Staking ORN is the process of locking ORN tokens for a selected period, which in turn generates veORN. Users can choose their staking amount and lock-up period, directly influencing their governance power and potential rewards.
Fueling Your Spacecraft for the Orion CouncilWhen you stake ORN, you are essentially fueling your spacecraft for active participation in Orion's council. The more fuel you commit, and the longer you maintain this commitment, the greater the influence your spacecraft commands within Orion.
Governance voting in Orion allows veORN holders to influence the distribution of rewards and the strategic direction of the protocol. Users can allocate their veORN to various liquidity pools, with their voting power being proportional to their veORN balance.
Charting the Course of OrionYour role in governance voting is like a navigator charting a course through the stars. Each allocation of veORN is a strategic decision you make, influencing how resources are allocated and guiding the development of Orion.
Rewards in Governance 2.0 are distributed based on a user’s veORN balance. The system is designed to reward both short-term and long-term stakers fairly, with a greater emphasis on long-term commitment.
Gathering the Rewards of Your JourneyAs you journey through Orion's governance galaxy, the rewards you collect reflect the influence exerted by your spacecraft. A more prolonged and committed journey, denoted by a higher veORN balance, yields greater rewards, echoing the successes of your governance ventures.
For users interested in the deeper aspects of Governance 2.0, the advanced topics section delves into the specific formulas used for calculating veORN and its decay over time. These formulas are designed with smart contract efficiency and blockchain compatibility in mind.
Mastering the Mechanics of Your SpacecraftThis section is where you dive deeper into the operational mechanics of your spacecraft in Orion. Understanding the nuances of veORN calculation and decay equips you with the knowledge to optimize your influence and navigate your governance journey more effectively.
This section addresses common questions and issues that users may encounter in Governance 2.0. It covers topics ranging from veORN calculation and staking strategies to technical issues with the platform. This resource is essential for users needing quick answers and solutions.
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