The transition from a foundation-led project to a fully decentralized, community-governed network is a delicate process that, if rushed, can jeopardize network stability and security. Somnia's plan for $SOMI governance reflects a mature, phased approach that prioritizes these factors over rapid decentralization.
Initially, following mainnet launch, protocol upgrades and critical parameter changes (such as key economic variables) will likely be managed by the Somnia core development team in conjunction with a decentralized multisignature wallet controlled by a council of trusted early contributors and community representatives. This allows for agile responses to any post-launch issues and ensures that changes are made with deep technical understanding.
The "details to be determined" for the future governance model will be worked out in public discourse during this initial phase. The eventual goal is a robust on-chain governance system where $SOMI stakers can propose and vote on network upgrades. The phased rollout allows time to build and test this governance machinery, establish voter participation mechanisms, and educate the community, ensuring that when full governance power is handed over, it is exercised by a prepared and engaged ecosystem, safeguarding the network's long-term future.
@Somnia Official #Somnia $SOMI