Docs · Community
Decentralization plan
What governance covers
Oceanpoint is operated by a Luxembourg company (registered as Blocksquare S.à r.l., being renamed Oceanpoint S.à r.l.) on infrastructure licensed from Blocksquare d.o.o. Decisions about the company itself are corporate decisions.
Community governance covers the BST staking pools that Oceanpoint's dApp hosts and the protocol parameters around them. sBST, the share token you receive when you stake BST in the governance pool, is what you vote with. BST does not govern Oceanpoint S.à r.l. and does not share its trading or listing fees. See BST for more.
How it works today
Governance runs in two steps: an off-chain vote, then execution by a multisig.
- Vote. sBST holders vote on Oceanpoint Improvement Proposals (OIPs) on Snapshot. Voting is off-chain and costs no gas. See The voting process.
- Execute. A six-member governance board (founders, advisors and community representatives) carries out decisions through a Safe multisig that needs 4 of its 6 signers to approve any transaction.
There is no on-chain governor contract today. Votes do not execute code by themselves; the board executes them.
BST rewards are directed to the pools by governance, and the allocation changes over time. Live figures for each pool are on /stats.
What changed from the original plan
The 2022 plan set out a version-by-version path (v0.3 and later) to a board with a growing number of community seats, followed by a Compound-style on-chain governance module and the board's dissolution. Part of that happened, part did not:
- Happened: control moved from the founding team to the governance board's multisig, with six seats split between founders, advisors and community representatives.
- Did not happen: the board did not grow beyond six seats, and no on-chain governance module was deployed.
The version labels are retired. The rest of the docs describe features as live or planned instead.
Where it is heading
The direction is still toward fully on-chain governance, with sBST holders taking over decisions the board makes today. There is no date for this yet.
The next large piece of work is the liquidity engine and its POINT token, which roll out in phases:
- Phase IBootstrapping liquidityMint/burn logic between POINT and deposited DAI, USDC or USDT, plus an AMM pool for POINT.
- Built and audited; POINT not yet issued
- Phase IIBSPT integrationSwap property tokens into POINT and back, balanced by the Dynamic Rate System and Target Portfolio Composition.
- Built and audited; not yet live
- Phase IIIAdvanced risk managementDynamic spread controls and the POINT Zero stability backstop.
- Planned
- Phase IVBSPT lendingBSPTs as collateral for borrowing: real estate-backed credit markets on the liquidity engine.
- Planned
Admin rights over the liquidity engine contracts are held by Oceanpoint, the company, through role-based access control; they are not governed by BST or sBST votes. POINT itself is planned and not yet issued. See POINT and the liquidity engine.
Taking part
You can take part by staking BST for sBST, voting on OIPs, and joining the discussion in the community channels. Start with The voting process and the governance principles.