After several rounds of development and security testing, Mensa Protocol has been officially upgraded to V4 DAO, the largest upgrade since Mensa Protocol launch.
We noticed that the revenue from simply staking MSA to MSA Pool is not stable, because the revenue of MSA Pool is all from the protocol’s fees, which will fluctuate depending on the protocol’s earnings are. In V4, we will give a whole new function to MSA and it will become the most important token in the protocol.
veMSA is the governance token of Mensa Dao, and veMSA can be obtained by staking MSA. Users can redeem MSA after the staking expires.
The ratio of veMSA acquisition: 1 MSA staked for 4 years gets 1 veMSA, staked for 1 year earns 0.25 veMSA, and so on, with a maximum pledge time of 4 years.
The number of veMSAs decays linearly during the time the user holds the veMSA. By the time the staking is unlocked, the number of veMSAs should be 0. (Note that only the number of veMSAs decreases, and you can still redeem ALL the MSA staked before.)
As a lending platform on Fantom, we have the best UI and the most conscientious devs. However, users have different ideas and opinions about Mensa Protocol. Sometimes these opinions go in the same direction, and sometimes opposite.
As the keyword of V4 DAO, we give governance to the people who care about Mensa the most — MSA Holder.
Mensa will give governance to MensaDao, which will combine both off-chain and on-chain governance.
Users who own a certain number of veMSA can initiate proposals. All users with veMSA can vote on the proposal, and after reaching the legal number of votes, the proposal will be passed and enter the execution status.
The proposal will include and not be limited to the following: the adjustment of various parameters of Mensa Protocol, listing and delisting assets, revenue distribution, and other issues.
Specific details of the proposal, voting, and execution will be further explained after the protocol is updated.
3rd week of Feb.