Governance Structure

• Phase 1: Multisig-controlled smart contracts with community input via forums.

• Phase 2: DAO proposal framework using Snapshot + forum discussion.

• Phase 3: On-chain governance with token voting on parameters such as:

• Supported asset types

• Collateral allocation mix (e.g. 70% T-bills, 30% corporate bonds)

• Fee structures (mint/redeem)

• Risk parameters (maximum duration, exposure caps)

• Revenue share or staking rewards

A future governance token may be introduced, or governance rights may be assigned to staked SBF holders, based on compliance constraints and legal review.