RISE PROTOCOL:LET'S ALL RISE…

FIRST THINGS FIRST…

Rise Protocol is a decentralized synthetic rebase token with built-in advanced financial tools that allow it to work as a hedge against any crypto asset class, with the initial peg to the most popular DeFi blockchain, Ethereum. This peg is also easily digestible, as investors must purchase RISE using ETH.
Rise Protocol manages price volatility, which is common in crypto via an elastic supply, deflationary mechanisms, frictionless yield, and a DeFi industry leading governance. Now governance is an important aspect of Decentralized Finance.

What is Governance?

images (6).jpeg

Governance comprises all of the action or process involved in ruling – whether undertaken by the government of a state, by a market, or by a network – over a social system and whether through the laws, norms, power or language of an organized society.
In effect, governance defines a framework of rules and procedures that regulates conduct of all participants in a predetermined community . It is usually associated with centralized political
activity, but it can be applied to everything from commercial interactions to interpersonal relationships.

Governance in Blockchain
With a governance framework intimately linked to blockchain,it is evident that an economy should make technology democratic.

Governance in DeFi
Layer 2 Ethereum oriented DeFi protocols are built with the ultimate design to bring as many sharing control of the protocol. In pursuance of this lofty design, DeFi projects have employed governance tokens to attempt to decentralize the governance of the decentralized applications. Popular distribution models make it so governance tokens can be earned by people who participate in the protocol.Token voting defines a transparent, open,on-chain governance but flawed design make it susceptible to huge token holders controlling the protocols.

Governance in Rise Protocol
Launched a couple of days ago, RISE Governance was a quarter ahead of the Roadmap schedule.Adaptability is one of the cutting-edge technologies that powers RISE as it has been
coded with maximum flexibility as a watchword.

COMPONENTS OF RISE PROTOCOL GOVERNANCE

The full-fledged suite composes of
•Fully functional off-chain gas-less governance client.
•Pooled Liquidity Providers will have their RISE in their voting power.
•Free voting
•An exclusive RISE Governance Telegram Group.

Rise Protocol Governance Processes

All governance proposals must successfully pass each of the following steps:
Discussion in the exclusive RISE Governance Telegram Group with membership and wallet balances controlled by the Collab.Land bot, which automatically kicks anyone with less than minimum of 300 RISE tokens

Submit Request For Governance Proposal (RFGP) Steps

This Request is mooted on the Rise Protocol Governance Platform.
Any eligible voter on the governance Telegram group may fill out a formal request for governance proposal (RFGP) with all sections of the RFGP duly completed.
This RFGP form must be supported by the majority(over 50%) of member votes within the Telegram community in order to proceed to the next phase.
After all these phases are passed, a formal Governance Proposal is then created on the official Rise Protocol Governance Platform.
The Proposal must garner 65% support in order to pass with the voting starting half a day after the Governance Proposal has been created, with deliberation lasting 2 days.
This is followed by an Official project announcement to confirm the passing of a Governance Proposal.
Governance Proposal will take effect 2 days after the official announcement.

Grace Periods
This interval will be introduced into the Governance Proposal process to prevent overly frequent changes to the protocol, which can cause the community to be unstable. During this period, no Governance Proposals can be created or voted.
If a Governance Proposal is successfully passed, a 2 week grace period will begin the moment the changes are enacted. This means that no other Governance Proposals can be created or voted on during this time. The RISE Governance Telegram group can still discuss and complete RFGP forms. However, they cannot be voted on until the 2 week grace period has elapsed.
If a Governance Proposal fails to pass, a 1 week grace period will begin immediately following voting conclusion. No other Governance Proposals can be created or voted on during this time. The RISE Governance Telegram group can still discuss and complete RFGP forms. However, they cannot be voted on until the 1 week grace period has elapsed.
To participate in the voting, click governance platform: https://snapshot.page/#/riseprotocol.eth

Last Word

Governance is important in a community , and with the right one, Rise Protocol will be taking a bold leap forward in taking up the mantle as one of the most adaptable and fluid protocol in the Decentralized Finance sphere.
These rigorous and highly scrutinized processes for a Governance Proposal will help stabilize the protocol, and create a healthy and sustainable environment that encourages innovation without sacrificing stability. Creating detailed and well-thought-out proposals is at the heart of governance, and will allow Rise Protocol to continuously adapt to the ever changing DeFi niche. Thus,its token symbol is aptly named - RISE.