🗣️Governance
An overview of Shell Protocol governance
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An overview of Shell Protocol governance
The Shell DAO is the entity governing Shell Protocol. The Shell DAO is controlled by SHELL token holders via veSHELL.
SHELL is the protocol's governance token. In order to vote or delegate votes in the DAO, users must hold veSHELL, which is vote-escrowed SHELL (aka staked SHELL).
At this time, all votes occur off-chain on Snapshot. Successful votes that require on-chain actions are executed by the DAO Multisig.
For a deep dive, continue here.
By design, the Shell DAO has limited control over the core protocol, namely the Ocean smart contract. Here are some things it cannot do:
It cannot manipulate or confiscate user assets (Shell is 100% non-custodial)
It cannot freeze the protocol (users can always withdraw their assets at any time)
It cannot block new primitives or adapters from connecting (anyone can build and deploy on Shell)
Toucan Votes: Community polls are conducted on Snapshot using the Government Toucan NFT, a "proto-governance" token.
ShellDrop DAO (Retired): The sole purpose of this DAO was to administer airdrops from other projects to the Shell community.
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