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Governance

The protocol is designed to be progressively decentralized. Token holders who stake NUMS in the vault receive vNUMS, which grants them voting power over protocol decisions. Governance covers everything from parameter tuning and treasury management to protocol upgrades.

This section explains how governance works across three areas:

Staking — Stake NUMS in the vault to receive vNUMS, which represents your share and grants voting power. This page covers the vault token, how voting power is derived, and the fee structure.

Votes — The Governor contract manages the full proposal lifecycle: submission, voting, timelock, and execution. This page details how proposals are created, how voting works, and the parameters that govern the process.

Treasury — The treasury holds protocol assets and serves as the operational reserve. All fund movements require a passed governance proposal. This page covers what the treasury holds, how funds are allocated, and the safeguards in place.

Design principles

The governance system is built around a few core principles:

  • Progressive decentralization — The protocol is designed to hand over increasing control to the community over time. Governance can vote to adjust any parameter as the protocol matures.
  • Onchain execution — All governance actions are executed onchain through the Governor and Treasury contracts. There is no off-chain multisig or admin override.
  • Minimal friction — Staking has no lock-up period and no fee by default. The barrier to participation is intentionally low so that governance reflects the broadest possible set of stakeholders.
  • Transparency — Every proposal, vote, and fund movement is recorded onchain and can be independently verified by anyone.