Ref Finance is primarily a community project. To formalize this, a DAO was created to allow the community to manage the crypto project. The DAO will be responsible for managing the treasury initially and shortly thereafter for managing protocol updates. Voting will be structured so that the largest group will either approve or reject proposals.
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About Ref Finance
Ref DAO serves two roles. The current council consists of four project leaders, and the community council consists of 20 active community members. More roles are likely to be added over time, and some may be changed or removed.
The community council can vote on proposals. In most cases, the council obeys the decision of the community council and refrains from voting. If you are a member of the DAO (council or community council), you can vote on any active proposals.
Other features of the crypto exchange:
| 1 | To foster growth, DAO recently voted to create a $ REF ecosystem token. |
| 2 | Ref Finance — a community-led project and the developers want the distribution to reflect that. |
| 3 | The team proposes that almost the entire proposal (minimum 65%, maximum 85%) be distributed directly to the participants, based on their interaction with the protocol. |
Early active users of Ref Finance will receive an airdrop of 3% of the total offer. The first 50% will be unlocked after 3 months, and the additional 50% will be unlocked after 6 months. The $ REF will be the main reward token for LPs, using the multi-Ref Finance yield farm mechanism. Within four years, 60% of the REF will have a distribution through the farm.
Additional information about the crypto new site
Ref currently charges a 0.5% protocol fee. The fee is subject to change by the DAO. The DAO can channel these funds to the $ REF holders either through an outright redemption or a buyback of the $ REF. As the protocol evolves and advances in line with its roadmap, the potential for charging may increase. There is no WhitePaper document on the site. Instead, the Medium blog is available, where you can find news articles.
From social networks, the community leads:
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