DAO Governance Overview

Lyra is a decentralised autonomous organisation (DAO) established to design, build and govern a financial derivatives protocol. In this section, we describe the structure of the DAO and how Lyra governance creates a decentralised and self-sustaining ecosystem.

The DAO consists of five components:

1. Governance- the system that facilitates interactions between service providers, the protocol and the treasury.
2. Token - the ERC20 token that enables decentralised governance of the DAO.
3. Protocol - the smart contracts that create a self-custodial, decentralised derivatives protocol.
4. Treasury - the funds used to maintain and improve the protocol.
5. Service Providers - Independent entities that seek funding to maintain and improve the protocol.