WeFi will be released with a guarded launch through our governance model. The governance framework of Compound inspires us.
A part of WeFi Tokens can be minted to incentivize traders. For every investment loan position the user creates, they can mint WeFi Tokens as per the protocol. Conversely, in the case of lenders, they mint WeFi Token as per the incentive structure for every transaction.
The admin controls the following rights in the protocol:
● Listing a new isolated pool
● Listing a new WeFi Token market
● Updating the interest rate model per market
● Setting incentive structure for lenders and traders.
● Updating the oracle address
● Withdrawing the reserve of a WeFi Token
● Choosing a new admin, such as a DAO controlled by the community. Typically, the DAO can choose a new admin.
Therefore, system administration can evolve based on the decisions of the stakeholders.