Saber Launches DAO on the Mainnet

The stablecoin DEX built on the Solana was inspired by the design frameworks of Compound and Curve’s DAOs.

Tribeca Chosen For Governance Structure

Saber, the leading stablecoin DEX on Solana, ended the year with the launch of their decentralized autonomous organization on the Mainnet.

The announcement was made via Twitter on January 1 that added that the DEX has been working with many Tribeca Governance and Goki Multisig contributors to build the infrastructure for the DAO from scratch. Although, several of the design choices made during the building process were inspired by the designs of Compound and Curve DAO structures. Tribeca Protocol has provided the vote locking and governance system that acts as the foundation of the DAO.

Saber has released initial parameters for the DAO that cover both Governor and Locker Parameters in its official Medium blog.

Governor Parameters

Locker Parameters

Timelock Delay Seconds: 1 day

Min. Stake Period: 1 week

Voting Delay: 1 day

Max. Stake Period: 5 yrs.

Voting Period: 3 days

Multiplier: 10

Quorum Requirement: 400 million veSBR 

Activation Threshold: 10 million veSBR

Source: Medium Blog

Additionally, the DAO will also inculcate additional features into the DAO:

The farming incentivized distribution will also be for a vote through integration with Quarry.

Saber farming yield boosts for DAO participants.

As previously reported by Solana.News, Saber entered into a partnership on Nov. 30 with the cross-chain bridging solution, Allbridge, to bridge assets from the Fantom network to Solana via the DEX. Previously the DEX partnered with Wormhole on Nov. 24 to bring Binance Smart Chain (BSC) assets to the Solana ecosystem. 

What is Saber?

Saber is the leading cross-chain stablecoin exchange built on the Solana network. The DEX provides the liquidity foundation for stablecoins and facilitates the cross-chain transfer of assets between Solana and other blockchain networks. In Nov. 2020, Saber announced a partnership with Chainlink in order to use their price feeds for LP trading pairs on the DEX.

Source: Solana News

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