👑Ruling Treasuries

Resources to get started as an Investor.

🗺️Overview

Daımon enables the governance of each Treasury through its respective on-chain consensus-based voting mechanism. By holding a veToken, investors acquire voting rights proportionally to their share of the Treasury's Assets Under Management (AuM).

The greater the share of AuM owned, the more voting power a tokenholder has. The same applies to Managers, encouraging them to have ownership of the Treasuries they manage.

Anyone holding a veToken can submit a proposal and vote via the 'Governance' portal. To submit and vote on Treasury Proposals, tokenholders will have to lock their votes via their Treasury's staking pool or delegate their veTokens to a Trustee who will vote for them.

🌡️Treasury Signalling Proposals (TSPs)

A non-binding proposal to signal the Treasury Community's feelings or intent on any issue. This may include polls regarding a Community's appetite for specific trades, risk allocation and market sentiment, along with any resolution regarding the management and administration of a Treasury.

Treasury Signalling Proposals essentially raise awareness on certain topics without the results being smart contract enforceable. TSPs are open for 3 days and require a 33% quorum, and 50% of votes or more in favour in order to pass. The members of the Asset Management Castle MultiSig will review every TSP vote and will manually execute TSPs with strong fundamentals.

TSPs include but are not limited to the following:

Management	Administration
Signal Trade/Strategy/Token Swap	Signal Change in Fees
Signal Treasury Buyback	Signal Change in Trustee
Signal Change in Maximum Acceptable Buy (Slippage)	Signal Change in Treasury Manager
Signal Blacklisting/Whitelisting of Asset	Signal Change in Management Castle
Signal Blacklisting/Whitelisting of Protocol/Strategy	Signal Blacklisting/Whitelisting of Redemption Asset
Signal Change in Minimum/Maximum Investment Requirement	Signal Blacklisting/Whitelisting of Denomination Asset

📝Treasury Mandate Proposal (TMP)

A binding proposal to vote on all aspects concerning the mandate of a Treasury. These include any resolution regarding what the Management Castle can or cannot do with the Treasury's portfolio.

TMPs are open for three days and require a 33% quorum, and 50% of votes or more in favour in order to pass. TMPs are smart-contract enforceable and are automatically executed at approval. Following execution, TMPs are time-locked for two days before being automatically pushed.

TMPs include but are not limited to the following:

Management	Administration
Whitelist/Blacklist Asset	Add/Remove Management Castle
Whitelist/Blacklist Strategy/Protocol	Whitelist/Blacklist Redemption Asset
Change Maximum Acceptable Buy	Open/Close Treasury to New Investors
Change Minimum/Maximum Investment Requirement	Whitelist/Blacklist Denomination Asset

🗳️Voting Mechanism

For both TSPs and TMPs, voting is active for three days, after which the voting ends and a proposal either succeeds or is defeated. Tokenholders can vote directly or delegate their votes to Trustees, which ensures greater oversight over the management/administration of the Treasury.

In this way, the Management Castles always retain full control over the Treasury's management for everything regarding Treasury Signalling Proposals, while the Community and the Trustee always have a binding say on everything related to the Treasury Mandate Proposals.

This system ensures that Management Castles are not subject to a 'tyranny of the majority' that would disincentivise Managers to manage supply capital efficiently, while protecting the Trustee and the Treasury Community from rent-extraction and advisory agreement breaches.

For more information on voting, please refer to Voting Power.