📎Understanding the DAO

What are the Lara DAO's functions

Functions

Lara is managed by the Lara DAO. The DAO members govern Lara to ensure its efficiency and stability. The Lara DAO should do the following:

• Build, deploy, update, and decide on key parameters of liquid staking protocols, approve incentives for parties that contribute towards DAO’s goals;

• Approve LGC(Lara Grant Committee) grants to support different research and initiatives that are worked upon for the benefit of the protocol;

• Payments to full-time contributors and other operational duties;

• Bug bounty program, respond to emergencies;

• Accumulation of service fees from Lara, which can be funneled into the insurance and development funds, distributed by the DAO;

Actions & Governance

The LARA token governs all Lara DAO governance and network decisions to ensure its prolonged stability and decentralized decision-making to facilitate the growth of fair, and transparent liquid staking. The LARA contract address - coming soon.

To have a vote in the Lara DAO, and to contribute to the determination of any of the topics outlined above, one must hold the LARA governance token. Holding LARA gives DAO members a vote in the future of Lara, allowing each DAO member to have a personal say in the community. LARA voting weight is proportional to the amount LARA a voter holds. The more LARA on a user’s address, the greater the decision-making power the voter gets. The exact mechanism of LARA voting can be upgraded just like the other DAO applications.

Software

Preparation for governance votes & communication will be managed via Dedicated Discord channels. Voting will be conducted via Snapshot.

Our Snapshot space has been registered at https://snapshot.org/#/laradao.eth and our DAO has officially claimed the laradao.eth ENS name.