stHYPE
  • Welcome to stHYPE
  • GUIDES
    • Stake
  • GOVERNANCE
    • Overview
    • Operators
    • Operator Onboarding
    • Community Codes
  • TECHNICAL
    • Integrate
    • wstHYPE
    • Contract Addresses
    • Audits
    • MEV
    • Security
  • INFO
    • What is Hyperliquid (HYPE)
    • Community tools & links
    • Transparency and Risks
  • Getting HYPE on Hyperliquid EVM
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  1. GOVERNANCE

Overview

We value decentralized governance. However, the vanilla governance token model often creates a situation where the economic security by the governance token does not exceed the TVL of the protocol, thus creating an attack vector. We have a legislative <> executive governance design to prevent this:

  • Legislative:

    • The actor that proposes new governance additions, protocol upgrades, and operator onboarding is controlled by a multisig that is composed of members of the Thunderhead team as well as other members of the community. When a new transaction is proposed, it must first be approved by this multisig before it gets put up to the protocol for voting

  • Executive

    • This is the system that approves proposals proposed by the legislative branch, and it is simply a weighted popular vote of stHYPE token holders. So, if a malicious proposal is created, the users of stHYPE have the complete power to veto the proposal. All proposals are considered optimistic and there must be a certain total number of tokens votes as well as a consensus percentage by the token holders to veto.

This system will go fully live post Hyperliquid pre-compiles.

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Last updated 2 months ago