Decentralizing CVI: Ushering in a New Era of Community-Driven Volatility Trading Platform
Since our inception four years ago, the ultimate objective of CVI has always been to create a fully decentralized platform, governed and managed by the community. Our journey through market challenges and bear cycles has only strengthened our resolve. With a fair distribution of tokens, persevering through a challenging market, we remained steadfast in our mission, believing that our innovative approach was not just a trend but the future of trading technology. Today, as our platform and its technology demonstrates increasing viability and volumes over our network, we are excited to announce that the time has come to fully realize our vision: decentralizing CVI.
The Path to Decentralization
Decentralizing CVI is not merely a transition but a transformation. This process will be meticulously planned and executed, ensuring compliance, stability, and long-term success. Our mission is to transfer control from a centralized entity to a decentralized autonomous organization (DAO), putting the power in the hands of our community.
Engaging Key Players
We are actively engaging with market leaders and influential groups to participate in CVI’s decentralization and future growth. These key players will be incentivized to help grow the protocol with goals to increase our platform usage and help maintain a well managed Implied Volatility trading ecosystem.
Building the CVI DAO
The cornerstone of our decentralization effort is the establishment of the CVI DAO. This initiative will empower GOVI holders, giving them a significant voice in the project’s future direction.
Here’s what you can expect:
Governance Portal
We will launch a governance portal where GOVI holders can propose and vote on protocol changes. This system will be designed to ensure fair and transparent decision-making, with voting power proportional to the amount of GOVI held.
Real Yield
This long awaited initiative has been discussed a lot across all our channels. The CVI platform’s usage is increasing as adoption for Volatility Trading is growing. This increase creates fees which upon the completion of the decentralization will be distributed for GOVI holders with incentives for the ones who have been staking for longer periods. This important milestone was planned to be released only later according to specific goals that were announced in the past although we believe that now is a better timing than ever to offer this direct connection between platform usage and GOVI holding with appreciation to your loyalty and support along the way.
Utilizing Remaining GOVI Tokens
CVI has 5 million GOVI left in the deployer contract. Below is the plan to utilize these tokens to support decentralization and growth:
Transition Support
2 million GOVI will be allocated to the team to ensure a smooth transition to decentralization and to provide ongoing support post-decentralization. This includes funding for the technical changes and developments necessary for the decentralization process, audits, servers and other such costs.
Incentives
The remaining 3 million GOVI will be strategically used to incentivize key players in the DeFi space. A portion will also be dedicated to incentivize partners to take part in CVI protocol growth and marketing efforts. Also, these funds will be used to build a core decentralized team, out of our community and trusted people, to keep leading future decisions.
Technical Integration and Community Involvement
Gradual Transition
We will gradually hand over control to the community, ensuring a stable process. This involves a phased approach where initial governance decisions are made in collaboration with key stakeholders and the founding team. As the community becomes more familiar with the governance mechanisms and gains confidence in managing the protocol, control will be incrementally transferred. This method ensures that all parties have adequate time to adapt to the new structure, mitigating risks associated with abrupt changes.
Incentive Alignment
We will create strong incentives for participation and governance, aligning the interests of all stakeholders. This means designing rewards and benefits that encourage active involvement in the DAO. For example, GOVI holders will earn real yield based on their staked amounts, ensuring that those who contribute more to the platform’s stability and growth receive higher rewards.
Technical Integration
Advanced technical solutions will be implemented to support decentralized governance, such as secure smart contracts and scalable infrastructure. This includes developing robust voting mechanisms, integrating with layer-2 solutions for scalability, decentralizing the frontend and backend completely, and decentralizing the oracle and the multisig.
Global Accessibility
Another key benefit to decentralizing CVI is the ability for the community to run the platform globally, without jurisdiction boundaries.
What’s Next for CVI: Near-Term Plans
As we move forward with our decentralization process, we want to share some key milestones and exciting developments on the horizon:
Real Yield Implementation
We are working diligently to complete the implementation of real yield for GOVI stakers, with the goal of launching this feature by Q4. This will mark a significant step in directly connecting platform usage with GOVI holding, rewarding our loyal community members for their continued support.
New Listings
We have been aware that GOVI is on the verge of being listed for trading on a new platform, with several more listings to follow. These upcoming listings will increase the accessibility of GOVI to new users, potentially driving greater adoption of the CVI technology and enhancing liquidity for our community.
Conclusion
The decentralization of CVI marks a pivotal moment in our journey. By incorporating our community in the future of the protocol, we are not just enhancing our platform but redefining the future of volatility trading. Your participation and support are crucial to this evolution. Together, we will build a robust, community-driven platform that stands as a testament to the power of decentralization, powered by the GOVI token
Join us as we embark on this exciting journey. Let’s shape the future of trading together, with CVI leading the way as the premier decentralized implied volatility platform in the crypto space. Your voice matters, and with your involvement, CVI will continue to innovate, thrive, and reach new heights.
This PR shares our plans and expectations, which may change as we progress. While we aim to achieve the goals stated here, actual results may differ.
We would like to invite everyone to join our vibrant community on our social channels. If you have any questions, our team & community are always on stand-by and eager to assist.
Website: https://cvi.finance
GitBook: https://docs.cvi.finance/
Twitter: https://twitter.com/official_CVI
Telegram (group): https://t.me/cviofficial
Telegram (channel): https://t.me/cvichannel
Discord: https://discord.gg/yuDsy7SM2H
v3 Litepaper: https://cvi.finance/files/CVI.v3.Litepaper.pdf
