Governance Components
Last updated
Last updated
Mento on-chain governance consists of the components visualized in the architecture diagram below:
A contract that emits MENTO tokens from its initial 40% allocation to the Community Treasury on a predefined schedule. It follows an exponential decay function, which means that new emissions will get smaller and smaller until the entire allocation has been emitted around the year 2060.
The main governance contract serves two functions:
Executing queued proposals that have passed governance voting
Community treasury storing the initial MENTO treasury allocation and ongoing emissions for future initiatives
This contract is time-locked, which means there is a 2-day delay before a passed proposal can be executed. This delay allows the Mento Watchdog Multisig to veto potentially malicious proposals.
A contract that deployed the entire governance system with all relevant contracts. It was used to set up the Mento Governance in a fully decentralized manner.
A contract that allows any user to vote on proposals. It also allows users with a minimum of 10,000 veMENTO in voting power to create new governance proposals.
A multisig wallet managing its 10% allocation of MENTO tokens for providing liquidity on centralized and decentralized exchanges.
A multisig wallet owned by the Mento Labs Team. It sends allocated tokens to a vesting contract, from which they are paid out to team members and investors over predefined vesting schedules.
The Mento governance token is the system’s core token. It can be locked in exchange for veMENTO to participate in creating and voting on governance proposals.
An admin contract, owned by the Governance Executor, that can upgrade the following contracts in the system:
A locking contract inspired by Curve’s veToken model. Users can lock their MENTO in exchange for veMENTO, which grants them the power to create and vote on governance proposals.
A guardian of last resort that can only veto malicious governance proposals.