5Table Finance Governance Features Successfully Deployed
5Table Finance Governance Features Successfully Deployed, a big step towards reducing centralization and increasing the security of their protocol.
Security is a top priority at 5table Finance, and they work with the highest standards in the industry to ensure that their users are safe while using their protocol. As 5Table Finance Governance Features Successfully Deployed.
All the issues that they found in the audit report they addressed and solved, but one important issue needed a bigger development to be solved efficiently without having a negative impact on the operation of the protocol.
What was this issue about?
Their main stablecoin vault uses a strategy contract that executes multiple operations automatically, turning that stablecoins into different stablecoins LPs and staking them across different farms and platforms.
Until now they are able to change those farms as they consider best without any restrictions, aiming to have a dynamic approach that could allow them to provide the most efficient strategy and therefore the highest APY on the whole network. But with that approach, there was a centralization risk, because they were able to move funds around without restrictions.
The solution
They needed to build a solution that eliminates centralization risks at the same time that they could continue to move funds around different farms dynamically looking for the best opportunities.
The governance feature will not only be to decide the stablecoin vault strategy, but also for other important decisions about 5table Finance protocol
How does the governance feature actually work?
The holders will be able to vote on the following things about the main stablecoin vault:
- A) Change the allocation of funds between the existing farms.
- B) Move funds from one farm (X) to another farm (Y).
- C) Options A & B combined: Change the allocation of funds between the existing farms, and move funds from a farm (X) to another farm (Y).
About 5table Finance
5table Finance is an advanced multichain, decentralized protocol that will allow you to find the best investment opportunities for your stable coins in order to protect your invested capital, obtaining the best profitability that the market can offer, in a safe and sustainable platform.
