Governance

1. Governance Overview

Parallel protocol is designed to be a fully decentralized financial platform that can serve millions of users. On Parallel, there are 4 kinds of stakeholders:
  • Development team and open contributors
  • Investors with Parallel's native token
  • A wealth of platform users
  • Network maintainers
The governance process should incentivize each party to participate in the network activity and evolve the protocol to meet the broad users' requirements.
Parallel will begin with centralized control of the protocol, with the stable development of the protocol, the voting power will be transferred to the community and shareholders. The following rights in the protocol are controlled by the root account or governance committee:
  • The ability to choose a new admin, such as a DAO
  • The ability to set the interest rate model per market, including liquidation thresholds and collateralization ratios, reserve ratio and multipliers
  • The ability to support or cancel a market
  • The collection of the staking validators

2. Governance Implement

Parallel governance has been implemented through substrate pallets, such as collective\democrac\elections-phragmen\membership\scheduler\treasury.
There will be a council. while Parallel blockchain needs to be upgraded, all could be voted by council members.

3. Governance Parameters

Loans Pallet

Set_liquidation_incentive()

Sets a new liquidation incentive percentage for currency_id. Returns Err if the provided asset is not attached to an existent incentive.
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pub fn set_liquidation_incentive(origin: OriginFor<T>, currency_id: CurrencyId, liquidate_incentive: Rate,) -> DispatchResultWithPostInfo
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Name
Substrate Config
Runtime Type
Description
origin
T::Origin
RawOrigin
The account signed this transaction
currency_id
-
CurrencyId
the asset that is going to be modified
liquidate_incentive
-
Rate
FixedU128 type that represents liquidate incentive rate
RETURN: Returns Ok() when set_liquidation_incentive succeeds, otherwise return a substrate error type.
Tip: Follow the link to know more about 'FixedU128'.

Set_rate_model()

Update the interest rate model for a given asset. May only be called from T::UpdateOrigin.
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pub fn set_rate_model(origin: OriginFor<T>, currency_id: CurrencyId, new_model: InterestRateModel,) -> DispatchResultWithPostInfo
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Name
Substrate Config
Runtime Type
Description
origin
T::Origin
RawOrigin
The account signed this transaction
currency_id
-
CurrencyId
the asset to be set
new_model
-
InterestRateModel
The interest rate model to be set
RETURN: Returns Ok() when set_rate_model succeeds, otherwise return a substrate error type.
Tip: Follow the link to know more about 'InterestRateModel'.

Add_reserves()

Add reserves by transferring from the payer. May only be called from T::ReserveOrigin.
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pub fn add_reserves(
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origin: OriginFor<T>,
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payer: <T::Lookup as StaticLookup>::Source,
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currency_id: CurrencyId,
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add_amount: Balance,
6
) -> DispatchResultWithPostInfo
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Name
Substrate Config
Runtime Type
Description
origin
T::Origin
RawOrigin
The account signed this transaction
payer
T::Lookup::Source
MultiAddress
The payer account
currency_id
-
CurrencyId
The assets to be added
add_amount
T::Balance
u128
The amount to be added
RETURN: Returns Ok() when add_reserves succeeds, otherwise return a substrate error type.
Tip: Follow the link to know more about 'MultiAddress'.

Reduce_reserves()

Reduces reserves by transferring to receiver. May only be called from T::ReserveOrigin.
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pub fn reduce_reserves(
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origin: OriginFor<T>,
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receiver: <T::Lookup as StaticLookup>::Source,
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currency_id: CurrencyId,
5
reduce_amount: Balance,
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) -> DispatchResultWithPostInfo
Copied!
Name
Substrate Config
Runtime Type
Description
origin
T::Origin
RawOrigin
The account signed this transaction
receiver
T::Lookup::Source
MultiAddress
The receiver account
currency_id
-
CurrencyId
The assets to be reduced
reduce_amount
T::Balance
u128
The amount to be reduced
RETURN: Returns Ok() when reduce_reserves succeeds, otherwise return a substrate error type.

Liquid-Staking Pallet

Coming soon.

Liquidation Pallet

Coming soon.

Last modified 22d ago