With LCD, you have the flexibility to delegate your voting rights according to your preference – whether that's to your own wallet, another user, a specific application, or a trusted DeFi expert. This feature opens up LUCIDAO governance to everyone, allowing participation through delegated votes, even for those who don't own any LCD tokens. Moreover, LCD is designed with advanced capabilities, including a feature to track an address’s historical voting weight. This is particularly valuable for developing sophisticated voting systems. Ultimately, LCD is at the heart of empowering our community-led governance.
At Lucidao, we've crafted a straightforward governance framework, making it easy for you to have a say in our direction. Anyone holding at least 1% of LCD delegated to their address can put forward a governance proposal. These proposals can range from simple to complex, such as introducing a new dApp, adjusting a Timelock setting, or altering any modifiable aspect of the Lucidao ecosystem. Each proposal undergoes a three-day voting period, during which any address with voting rights can cast their vote for or against it. And if the existing governance framework doesn't align with your vision, you're not stuck with it. You have the power to initiate a change – simply vote to implement a new model that better reflects the community's aspirations!
Our shift towards community governance has been meticulously orchestrated, prioritizing security and stability while embracing a gradual approach to decentralization. In the initial sandbox phase, we allocated a portion of the governance tokens to our shareholders. They have the discretion to assign their voting weight either to themselves or to the wider public. Moreover, we strongly encourage developers who are building on the LUCIDAO platform to engage actively in the governance process. This careful, phased transition ensures that as we move towards a more decentralized model, we maintain the integrity and robustness of the LUCIDAO ecosystem, fostering a secure and stable environment for all participants.