RAI Finance is governed and upgraded by SOFI token holders with the governance module. Addresses with at least 100,000 SOFI can create the autonomous governance proposals.
Once the governance proposal is created, 100,000 SOFI will be staked to the governance proposal. When a governance proposal is created, there will be 5 days until the voting ends.
Each SOFI tokens will represent for one vote(1 SOFI = 1 vote) correspondently and more you hold, you will get more voting power on RAI Finance governance. There will be no minimum required to participate in voting unless you are not holding any SOFI tokens.
If there's at least 5.6M votes are cast for the proposal, majority outcome will be queued in the Timelock and will be executed a day later. Proposals those are not automatically executed through the smart contracts (i.e. Marketing Proposals, etc.) may take longer to be executed.
After the cancellation of the proposal, Timelock or voting ends, the creator can claim their staked SOFI to the proposal.
Process of RAI Finance Governance Proposal
Please see the how-to guides below to get involved with RAI Finance Governance.