Off-chain Governance

Off-chain governance is the starting point of ELYFI governance. Governance participants are free to write proposals such as improvements to the ELYFI protocol, and ask members for discussion and opinion polls. Before voting, on-chain governance participants refer to off-chain governance discussions and poll results.

For off-chain governance, you can typically participate in ELYFI Forum. We propose the forum as one of the off-chain governance, but do not limit the format. This means anyone can build a new off-chain governance. However, for the rapid growth of governance, we have proposed ELYFI Forum and are waiting for feedback from many participants.

Why does it operate outside the blockchain?

The reason we do not record off-chain governance on the blockchain is that most activities that take place on the blockchain have costs. One of the values ​​that ELYFI considers important is 'decentralization'. In order for ELYFI to operate in a decentralized manner, active participation of governance participants is required, and ELYFI believes that these activities ultimately contribute to the development of ELYFI. To this end, ELYFI must provide an environment where participants can freely express their opinions. Therefore, final decisions are made on-chain, but other activities are carried out off-chain, allowing community members to participate in governance at no cost.

What are the qualifications to participate in ELYFI Forum?

Anyone who joins the forum and has a certain trust level can participate in off-chain governance.