Governance Layer
General Governance
At Saakuru protocol, we are deeply committed to creating a fair and inclusive ecosystem for all community members, regardless of their financial standing. By implementing Proof-of-Stake-Plus (PoS+), which considers individuals' past activities, we ensure that every member has the opportunity to influence the protocol's evolution. This approach allows for wide-ranging participation in critical decisions, including the creation of proposals, voting on grant operations, and determining the prioritization of new features. Our aim is to foster a collaborative environment where every voice is heard and valued, driving our protocol forward in a manner that truly reflects the collective will and diversity of our community.
Key Components of Proof-of-Stake-Plus (PoS+)
The Proof-of-Stake-Plus (PoS+) governance model is designed to reward and encourage community engagement across various dimensions. By recognizing the multifaceted nature of participation, PoS+ aims to foster a more inclusive and active community. The model breaks down into three key areas:
Breadth: Rewarding community members who actively explore different facets of the ecosystem. This encourages users to discover and interact with various services and features, promoting a broader understanding and usage of the protocol.
Depth: Incentivizing members who engage deeply with specific areas of the ecosystem. This includes those who contribute regularly, whether through providing feedback, participating in discussions, or helping to refine and improve services. Depth ensures that dedicated contributors are recognized for their sustained efforts.
DeFi Activities: Since decentralized finance activities play a pivotal role in generating revenue for the protocol, engaging in DeFi transactions and services is recognized and rewarded. This component encourages healthy economic activity within the ecosystem, supporting its growth and sustainability.
By integrating these three areas, PoS+ aims to create a balanced and dynamic governance model that values both breadth and depth of engagement alongside economic contributions.
Note that the implementation of PoS+ involves a complex interplay of both on-chain and off-chain activities, including interactions with decentralized applications not developed directly by Saakuru Labs. To address this complexity, we are dedicated to continuously assessing and developing a comprehensive framework to guide the implementation process. As such, the rollout of PoS+ is anticipated to occur in phases, allowing for thoughtful integration and optimization based on feedback from our community and the evolving landscape of blockchain technology. This phased approach ensures that the PoS+ model aligns with our commitment to security, inclusivity, and broad-based community engagement.
Security through Governance
Enhanced Security through Governance and Whitelisting
A gasless protocol inherently faces unique security challenges, necessitating a multifaceted approach to safeguard the ecosystem. A notable layer of security is the requirement for developers to have their deployment wallets whitelisted before they can deploy on the mainnet. This prerequisite acts as an initial barrier against unauthorized and potentially harmful smart contracts.
However, the ecosystem's security doesn't solely rely on whitelisting. Recognizing the possibility of a whitelisted wallet being compromised, the protocol leverages governance to further fortify its defenses. Governance, powered by SKR tokens, engages the community in the security process. Community members are incentivized to monitor the ecosystem actively, identifying and responding to any signs of malicious intent or potential security breaches.
This collaborative effort boosts the protocol’s resilience against threats. By encouraging community involvement, governance cultivates a collective sense of ownership and responsibility. Participants are rewarded for their vigilance, creating a powerful deterrent against bad actors. Consequently, governance acts as a dynamic layer of protection that complements the static security provided by the whitelisting process, ensuring the protocol's integrity and longevity.
Reporting and Reward Mechanism
The process for reporting malicious smart contracts and incentivizing vigilance among SKR holders is structured as follows:
Report Submission: An SKR holder identifies a potentially malicious smart contract and reports it by submitting 40,000 SKR tokens. The rate is adjusted weekly based on the price of SKR tokens over the past 7 days.
Investigation: The security council, comprising representatives from Saakuru Labs, a 3rd party security partner, and the broader Saakuru community, conducts a thorough investigation to ascertain the validity of the report.
Outcome - Valid Report:
The individual who reported the issue is refunded their initial submission and additionally rewarded with a 2x multiplier, totaling a 3x return on their initial submission. The extra tokens will come from the community incentive pool.
The 3rd party security partner involved in validating the report receives a service fee for their contribution, less 5% of this fee, which will be burned.
Access to invoke the smart contract will be blocked until the issue has been resolved by the developer
Outcome - Invalid Report:
If the report is determined to be unfounded, the submitted fee is forfeited by the reporter.
The forfeited fee, minus a 5% deduction that will be burned, is allocated to the third-party security partner as compensation for their investigatory efforts.
This mechanic not only encourages proactive identification and resolution of security threats but also ensures a fair and rewarding system for those contributing significantly to the ecosystem's integrity.
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