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. Parallel's Native Token
At the early stage of Parallel network, the native token can be used as an incentive to onboard users, raising funds from investors, reward the development team and open contributors. In the end, these are the necessary operational overhead costs.
3. 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.
4. 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.
1
pub fn set_liquidation_incentive(origin: OriginFor<T>, currency_id: CurrencyId, liquidate_incentive: Rate,) -> DispatchResultWithPostInfo
Copied!
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.
1
pub fn set_rate_model(origin: OriginFor<T>, currency_id: CurrencyId, new_model: InterestRateModel,) -> DispatchResultWithPostInfo
Copied!
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.
1
pub fn add_reserves(
2
            origin: OriginFor<T>,
3
            payer: <T::Lookup as StaticLookup>::Source,
4
            currency_id: CurrencyId,
5
            add_amount: Balance,
6
        ) -> DispatchResultWithPostInfo
Copied!
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.
1
pub fn reduce_reserves(
2
            origin: OriginFor<T>,
3
            receiver: <T::Lookup as StaticLookup>::Source,
4
            currency_id: CurrencyId,
5
            reduce_amount: Balance,
6
        ) -> 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
None for now!
Liquidation Pallet
None for now!
​