# DAO

## **Mission & Vision**

DAO stands for “Decentralized Autonomous Organization”. Establishing the development of Trava DAO ensures Trava’s team mission:

* A self-governed protocol, powered by the strength of the Trava community & secured smart contracts.
* The growth of Trava Ecosystem, a decentralized finance platform with stable and outstanding products.

With that mission in mind, Trava DAO will be implemented & takes over centralized processes gradually with the growth of the ecosystem.

## **Governance v1**

For version 1 of Trava Governance, we present evolution in governance processes with on-chain features enabled.

### **Governance Process**

The governance process consists of 2 continuous processes: off-chain & on-chain.

* Off-chain process:

In the off-chain process, anyone in the Trava community can raise their opinions and discuss ideas of how the protocol can improve by creating **TRC - Trava Request for Comments** on the Trava Forum.

After an idea is well-formed, a community member can follow our template for **TIP - Trava Improvement Proposal** and post on the forum for details feedback. We recommend off-chain voting (powered by snapshot.org) to gain exposure and rough consensus from the community to increase the chance of succeeding in the on-chain process.

When a TIP gets to its final version, the **DAO Committee** is in charge of the review process and officially proposes on-chain.

![](https://lh6.googleusercontent.com/3HQXUvPoiSSCOnWLc1t1fjSliNAcqln-JKtC-kfzyGZk74bo4dx9HGTBN5Ec7j0J8nR5DxEcoZTtFtIwmSyQqQ46dsV9y4vu2DaX60KQm-_XUctOclEhXt03EoVSeIwg-zRWWiOvLabymXiLUA)

* On-chain process:

When a TIP is proposed on-chain, it becomes transparent on the public blockchain; anyone possessing voting power can directly **vote for or against** this proposal.

After the voting period, a TIP will be **queued and executed** by the public.

The **Security Advisory Board acts as a guardian** to prevent malicious actions and security exploits in this process.

![](https://lh5.googleusercontent.com/pQ0qLxtpxZNBB11gisLaBtbueq4ZO3VeC31o33gHjD8xr5BCUakJYn8bodGupzRSju225PAMWta_I-REHBEoX8IlByGQZRvGzQuLAK4fA-pFkY4O6fnoSsre8DjSDCH7XQtRG0WBj1Vc9PEUrw)

### **Governance Authority**

In governance version 1, the DAO will have authority over the Trava lending protocol. The community will have to agree on any significant changes or updates through the on-chain process.

### **Governance Power**

To gain governance power, holders need to lock their Trava or rTrava token in exchange for the veTRAVA token, which holds voting power. This vote locking mechanism encourages users who show a solid commitment to the protocol with more governance power and incentive.