Sunny Governance Launch
- Sunny Governance Portal: https://tribeca.so/#/gov/sunny/
- Sunny Gauges: https://tribeca.so/#/gov/sunny/gauges
Since the launch of Sunny Aggregator, contributors have focused on making Sunny a decentralized project governed by SUNNY holders. Sunny explicitly chose not to raise VC funding, and the token distribution of SUNNY is more decentralized than the majority of projects on Solana.
Sunny developers have contributed to the development of the Tribeca protocol, a set of programs and tools for Solana projects to launch governance and DAO infrastructure. The Tribeca software takes inspiration from Compound and Curve’s well-respected governance models. Sunny chose Tribeca for its ease of use for developers and solid design principles. Learn more about Tribeca from their documentation or discuss in the #governance channel in the Sunny discord. You can access the Sunny governance portal on the Tribeca app at https://tribeca.so/#/gov/sunny/
Today Sunny’s progress toward full decentralization continues: Sunny governance has launched on Tribeca. Users can create proposals, vote on proposals, and lock SUNNY to create veSUNNY which is used for voting. The amount of veSUNNY a user receives is based on the duration they lock up their SUNNY, with a maximum of 5 years. The longer someone locks up their SUNNY, the more voting power they have. This means that long term believers have the most voting power.
If you are considering locking up your SUNNY into veSUNNY, be careful, as it is a one-way decision. Once you have locked up your SUNNY into veSUNNY, it can not be undone and represents a commitment to participating in Sunny governance.
More importantly, this unlocks the path to Sunny gauges. Sunny gauges empower SUNNY voters to control the relative allocation of SUNNY rewards for each pool. This means that SUNNY holders can vote for pools they are participating in to increase their share of SUNNY rewards. Additionally, this may mean that other protocols will want to accumulate SUNNY or buy SUNNY votes in order to boost yields for their own pools related to their own protocol.
Additionally, Sunny V3 is coming soon. Pool creation on Sunny V3 will be permissionless, enabling Sunny to integrate with protocols beyond Saber. Sunny will grow autonomously and in a decentralized way, governed by SUNNY holders. Stay tuned for upcoming votes, sunSBR, bribes, and the launch of Sunny V3!
