Governance

Oscarswap Governance

Governance is a crucial feature on the Oscarswap platform, which is why it is given such importance. The voting on the governance protocol is done to draw a mutual consensus from the general user base for important decision-making.

More importantly, Governance is used in decisions, such as, Token allocation, New feature introduction, Reward allocation, and vesting periods.

The community is a crucial factor in the success of the Oscarswap protocol. Therefore, their interests are given due importance and weight.

Time locking

A timelock is a smart contract that postpones another smart contract's function calls after a set period of time. Timelocks are typically employed in the context of governance to delay administrative procedures, and they are widely regarded as a powerful indicator of a project's legitimacy and the project owners' commitment to the initiative.

Therefore, Oscarswap has implemeneted a time locking smart contract to ensure that the community governance decisions are implemented. The time-locking smart contract holds back treasury funds, unless governance proposals are implemented. Through this way oscarswap protects the interests of its community

Why is timelock necessary

Implementing a timelock is beneficial for a number of reasons, including:

• In order to give the community more guarantees, project owners relinquish authority.

• When necessary, timelocks enable investors to leave the protocol.

• Transparency with investors and stakeholders is expected of project administrators

Multi-signature wallet

The Oscarswap administration has implemented a multisig wallet to spend the funds from the Treasury Fund. The keys to the multisignature wallet will be held by two private community members and one by the administration.