The Lithium DAO is a community-driven organization that operates autonomously using smart contracts on the blockchain. Members of the DAO have a say in the decision-making process, and they can vote on proposals related to the development and direction of the Lithium Finance platform.
At Lithium Finance, we believe that the power of collective intelligence drives better decision-making. We recognize the importance of our community's expertise, and we believe that our users should have a say in the development and direction of the platform.
The purpose of the Lithium DAO is to empower the community to make decisions about the development and direction for the Lithium Finance protocol. This includes decisions about the allocation of resources, new feature proposals, and other important decisions that impact the platform and its users.
The DAO manages the protocol by deciding on key parameters through the voting power of LITH token holders. The DAO also manages treasury and any service fees the protocol may collect going forward and spend them on research, development, and protocol upgrades.
The Lithium DAO uses a token-based governance model, where members can vote using LITH tokens. Each LITH token represents a vote, and members can use their tokens to vote on proposals related to the development and direction of the Lithium Finance, comprising:
- Lithium Finance Protocol A suite of persistent, non-upgradable smart contracts that together create a mechanism to incentivize and aggregate opinion from the community on various blockchain networks.
- Lithium Finance Governance A governance system for governing the Lithium Finance Protocol, primarily based on a token voting system.
- Interface A web interface that allows for easy interaction with the Lithium Finance Protocol. The interface is only one of many ways one may interact with the protocol.