Astroport
Searchโ€ฆ
๐Ÿฆ
Astral Assembly
The Astral Assembly will govern Astroport; it is Astroportโ€™s version of a DAO (Decentralised Autonomous Organization). The Astral Assemblyโ€™s goal is the operation, maintenance, development, and growth of Astroport as a user-governed DeFi commons. xASTRO and vxASTRO (see Astroport Tokenomics Overview) holders will have the power to propose and make binding votes on smart contract parameter changes, smart contract upgrades, and treasury disbursements.
Astroportโ€™s governance control cannot rest in the hands of a small number of contributors. Therefore, rather than giving multisig signers complete control of the protocolโ€™s treasury and the ability to implement smart contract upgrades, Astroport will put governance in the hands of xASTRO and vxASTRO holders.
Since Terra utilizes the Cosmos Software Development Kit (SDK), the protocol will be built with CosmWasm smart contracts that can only upgrade the contractโ€™s owner address. Therefore, Astroportโ€™s owner address will be the governance contract itself. That means that the Astral Assembly must approve all upgrades to the Astroport smart contract on Terra and Astral Assembly treasury disbursement on the Terra blockchain. Upon approval, the upgrades or assignments will be autonomously executed. Since this process will be open and transparent, it should be challenging to approve malicious or insecure upgrades.
Export as PDF
Copy link