Betonchain DAO

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Once a delegation/voting system using the BET token is live on-chain, the Betonchain DAO is solely responsible for protocol operation and proposing and approving protocol upgrades and improvements. This includes all (1) data provision decisions, (2) contract updates and state variable changes, and (3) tokenomics decisions.

Tokenomics decisions include distribution adjustments and incentive programs to accelerate growth and development. This includes the type of stable token being paid out to BETLP holders, the rewards multiplier ratio, the percent split between BET and stable rewards paid out to BETLP holders, etc. These descisions allow incentives to better adapt to market positioning and maturity of the protocol.

Contract upgrades involve anything from security improvements to which betting types are offered (ex. whether to offer double chance bets through the protocol). Upgrades might overlap with data provision decisions, such as changing which API endpoints are requested.

The DAO is responsible for the full scope of the contracts’ admin, such as refunding user bets in the case of emergency.

The inclusion of state variable changes implies the DAO is responsible for day-to-day protocol operations. All relevant transactions are initiated and funded by the DAO, including but not limited to:

  • Adding or updating betting or game data in BetCore.sol, which pulls data directly from the Chainlink consumer contract using game IDs

  • Adding game results to BetCore.sol, which also pulls data directly from the Chainlink consumer contract using game IDs to close relevant active bet positions and adjust user balances

  • Adding support for new teams and/or leagues

  • Seeding active bet positions with initial liquidity, freeing unused liquidity for closed positions, and rolling it over to new positions

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