Governance

Chedda is built as a community governed protocol, with the governance by the $CHEDDA governance token.

For major governance decisions, a community vote is required with a simple majority needed for proposals to pass. $CHEDDA tokens are not directly used in voting, rather when $CHEDDA tokens are locked in a locking gauge, and vCHEDDA token is minted. vCHEDDA token determines the voting power an account has.

Chedda's governance model is built upon the OpenZeppelin Governance framework.

Initially, all ownable contracts in the protocol are owned by the governance council, also based on OpenZeppelin governance. Once Chedda Token is widely circulated and sufficient vCHEDDA minted to secure governance from manipulation, ownership will be transferred to community ownership.