Decentralized governance has always been part of the design of OpenSwap since its inception. From launch, a Governance Portal was available and still is to let token holders transparently govern the protocol. Upon day 1, the OpenSwap team have been serving as a ‘Transparent Guardians’, utilizing the Governance Portal to carry out all key decisions on the protocol. For this to happen, a defined 20,000,000 OSWAP tokens was minted and locked into the Governance contrac, enabling the OpenSwap team to carry out governance. These tokens will never be in circulation and its only purpose is to ensure an ample amount of tokens for protocol governance.
The Emergency Administration council is also a part of the model. Community members can be voted into this council where they can take the following 3 actions: Emergency Pause or Shutdown of the part or all of the system. Emergency Restart Veto an Executive Proposal during the vote and the execution delay.
This council has a simple voting system where they agree to an action if a majority of 50%+(out of all the tokens the councilors hold) is reached.