Governance Framework

The BNKD Protocol is governed by four bodies, each responsible for a core aspect of a DAO.

Governance Council Structure

The BNKD governance structure is composed of Councils, Committees, Core Contributors and a DAO. Each governance component is assigned a specific aspect of protocol governance. Councils are directly elected by BKND stakers, while other governance bodies are appointed according to the existing governance procedures. All of the components work together to ensure that the protocol is governed in a fair, transparent and legitimate way in accordance with the direction provided by token holders.

The BNKD Protocol has several governing bodies and artifacts which co-exist to enable the decentralized nature of the protocol. The key decentralized councils and DAOs are the - Swiss Council, Treasury Council, Ambassador Council, and Grants Council. All of the councils are elected by BNKD Stakers.

The governance process utilizes key artifacts - BNKD Improvement Proposals (BIPs) and the BNKD Configuration Change Proposals (BCCPs), which effectively outline proposed changes to the BNKD Protocol. These changes are implemented by BNKD Core Contributors, managed by the Core Contributor Committee.