🕍RyuDao

Introduce

Ryu Finance is a decentralized autonomous organization (DAO) that aims to create a transparent, secure, and user-friendly platform for DeFi enthusiasts. The platform is built on the SUI network and includes various DeFi products such as yield farming, staking, and Innovative gameplay.

The Ryu DAO is the governing body of the Ryu Finance ecosystem. It is responsible for making important decisions related to the platform's development and management, such as proposing and voting on changes to the platform's protocols, managing the community treasury, and deciding on partnerships and collaborations.

In addition,Ryu DAO is a community-driven organization, and anyone can become a member by holding the RYU token. RYU is the native token of the Ryu Finance platform, and it is used for various purposes such as staking, voting, and participating in the platform's governance.

In summary, the Ryu Finance DAO is a vital component of the Ryu Finance ecosystem. It ensures that the platform remains decentralized, transparent, and self-governed. The community-driven nature of the Ryu DAO makes it a unique and innovative project in the DeFi space.

Stake & Rewards

User can stake the RYU tokens to DAO rewards pool,the detailed staking reward rules are shown in the below:

• Total alloc to DAO rewards: 8,000,000 RYU

• Daily DAO rewards output: 10,000 RYU

• Estimate release time: 800 Days

Rules for Staking and Redemption

• After users stake RYU, they will get the same amount of vRYU.

• Users can stake vRYU in the DAO reward pool to earn RYU and vRYU.

• The rewards generated by the DAO reward pool can be withdrawn at any time, without time and number of restrictions.

• Users can convert vRYU1:1 to RYU, but the conversion takes 14 days. If users want to reduce the conversion time, they need to bear part of the vRYU loss,Lock day choose range: [1,14].The specific loss function is as follows:

$$RYU = vRYU*(1-(14-releaseDay)*0.06)$$

• 70% of the vRYU lost due to early unlocking will enter the DAO rewards Pool and the remaining 30% will be directly destroyed.

• The vRYU will have more usage scenarios, such as the whitelist of special events or the right of first refusal and exclusive purchase channels for some projects.

Vote

Holders of both vRYU and RYU have voting rights.

However, the voting weights of RYU and vRYU are different. In the actual voting process, 1 RYU is recorded as 1 vote, and 1 vRYU will be recorded as 2 votes.

What circumstances will voting be opened?

Voting Ranges Enabled by Developers

• Economic Model Adjustment

• Major Adjustments to the Reward Pool

• Major adjustments in development direction

Proposals initiated by the community

In order to prevent this function from being abused, people with a RYU balance of more than 200,000 or a vRYU balance of more than 100,000 can initiate proposals.

Optional range of proposals

• Reward adjustment

• Economic Model Adjustment

• Feature function development

• Others