5 minutes

Orion Governance 2.0: A New Era of Community Empowerment 🟣

December 4, 2023

We are excited to announce the launch of Orion Governance 2.0, a significant stride in our mission to create a more equitable, stable, and user-empowered ecosystem. This evolution in governance marks a milestone in our commitment to building a protocol that values every member of our community.

Why the Shift to Governance 2.0?

Transitioning to Governance 2.0 was a necessary step to enhance the stability of our tokenomics and to establish a less inflationary model. This shift is crucial for the long-term sustainability of the protocol, ensuring a balanced and prosperous ecosystem for everyone involved. While Governance 1.0 offered rewards with minimal commitment, it wasn’t a model that could support long-term growth and stability. Governance 2.0 is about building a healthier ecosystem where the token and the protocol can thrive in harmony, benefitting all members of our community.

Choice and Flexibility

In Governance 2.0, the choice is yours. Whether you prefer short-term engagement or long-term commitment, our system is designed to benefit both. By offering the flexibility to lock ORN for varying periods, we ensure that every contributor, regardless of their strategy, finds value and reward in their participation.

What’s New?

Governance 2.0 brings several key changes that are crucial for the protocol’s growth and your increased involvement:

Introduction of veORN: The new veORN system rewards the most the longer you stake. It’s about recognizing and rewarding long-term DAO Governance Stakers.

Dynamic and Empowering: With Governance 2.0, power shifts more into your hands, the community. It’s designed to be more responsive and adaptable to your needs and decisions.

High APR Opportunities: Experience potential high APRs! It’s important to note that these enticing rates are especially for our longest-term stakers and are part of a temporary incentive program.

Future-Proof: Looking ahead, veORN is set to become even more versatile. It’s designed to be leveraged by the Orion DAO for discovering new utilities, all while maintaining its dynamic functionality.

Flexibility for New Users: New users aren’t left out! We offer the flexibility to stake for periods as short as 7 days, ensuring everyone can participate in Orion’s growth.

Why These Changes Matter

These updates are not just features; they’re a commitment to you:

Empowering Your Voice: Governance 2.0 is a step towards a true DAO, where your influence directly impacts the protocol’s future. Your decisions, your power.

Rewarding Your Trust: By locking in ORN for longer periods, you’re not just staking; you’re expressing faith in Orion’s vision. We believe this trust should be met with significant rewards.

Transitioning from Governance 1.0 to 2.0: What You Need to Know

As we transition from Governance 1.0 to the more robust 2.0 system, here’s what’s happening: On December 13th, rewards for Governance 1.0 will cease, marking the end of the previous system. Liquidity farming rewards under the old system will also stop on this date. From December 5th, rewards in the new governance and liquidity staking systems will commence, with a focus on ORN-denominated pools. Go to Old Governance, a menu item only displayed to Governance 1.0 stakers.

Follow the steps found here: Transition Guide

About Rewards

We believe in transparency regarding the nature of rewards in Orion Governance 2.0. The APRs presented at the time of your stake are indicators of potential returns, not fixed guarantees. Our vision is to eventually sustain rewards solely through protocol revenues. However, as we continue to build and grow, we are temporarily supplementing these rewards from our marketing budget. This approach allows us to offer competitive returns while fostering the platform’s development.

It’s important to understand that for the time being, while incentives are managed by the DAO and not fully automated by smart contracts, rewards are subject to adjustments based on various factors. We are committed to continuously monitoring and evaluating the reward structure, taking into account market conditions, volume growth, and product adoption. Initially, this flexibility ensures we can adapt and make decisions that are in the best interest of the community and Orion’s long-term success.

As we progress, our goal is to align rewards more closely with the protocol’s organic revenue, ensuring a sustainable and prosperous ecosystem for all participants.

Building The Future of DeFi

This is about creating a protocol that stands the test of time. As we embark on this new chapter, we invite you to join us in shaping a future where your involvement has a direct impact on our journey.

Dive Into Governance 2.0

For a deeper understanding of Governance 2.0 and how you can make the most of it, visit our GitBook:

Introduction to Governance 2.0
Understanding veORN
Staking and Locking ORN
Governance Voting
Rewards Distribution
Advanced Topics
FAQ & Troubleshooting

Your Participation Matters

Your engagement in Governance 2.0 is pivotal. Whether you choose short-term staking or a longer commitment, your influence and contribution are invaluable. Together, let’s steer Orion towards new heights in success and innovation.

Join us in this exciting new era. Your choices, your voice, and your commitment are the pillars that will support and elevate Orion’s decentralized finance ecosystem.

Lock in, contribute, and be part of Orion’s promising future!

Get started: trade.orion.xyz/gov-v2