Governance

As of today, Overlay Protocol is governed by Planck Cat DAO, a DAO for Overlay contributors to participate in the protocol governance via PlanckCat (PCD) NFT’s. Discussions are currently being had about OVL taking the place of governance. These discussions will be had in the appropriate channels on Discord and Forum.

1 PCD NFT equals one vote and PCD NFT holders can vote for governance proposals on Snapshot. Moreover, any PCD NFT holder can start a discussion on both Overlay Discord and/or the Forum, and then after a temperature check, can open a governance proposal on Snapshot.

PlanckCat DAO can and will decide on what markets will be listed or delisted on the protocol, as well as set protocol risk parameters which will dictate the experience for all users.

Non-PCD NFT holders can still get involved with discussions on Discord and the Governance Forum.

If community members want to actively participate in governance,they must earn an NFT by contributing to Overlay Protocol. Participation is judged by community members, and contributors are rewarded with Cred. As of today, community members must collect 1000 Cred to claim one PCD NFT. The soft cap supply of the PCD NFT is currently set to 500. More NFT’s can be minted on a one off basis once the 500 limit has been set.