Governance
Multyr operates under a four-entity governance architecture with separation of powers. All Safes are deployed and verified on-chain on Arbitrum.
Governance entities
ROOT_TIMELOCK
48h delay
Executes all governance actions after delay.
SAFE_GOV
3/5 multisig
Owns all contracts and proposes parameter changes.
SAFE_GUARDIAN
1/1 multisig
Emergency-pause authority on pausable contracts. Cannot unpause.
SAFE_VETO
1/1 multisig
Cancels pending governance actions during timelock.
Capital Safes
Protocol capital is segregated by purpose. Treasury, Operations, and Safety Reserve do not share the same control path and do not hold user deposits.
Treasury Safe
Threshold: 3/5
Protocol-owned capital. Will hold 75M MTRY at TGE. Receives a portion of protocol fees.
Operations Safe
Threshold: 2/3
Operational expenses only: development, infrastructure, audits, and partnerships. Refilled from Treasury through governance proposal.
Safety Reserve Safe
Threshold: 2/3
Limited loss-absorption buffer funded from protocol fees. Currently minimal during the shadow testing phase and not an insurance mechanism.
Governance flow
SAFE_VETO can cancel during the delay window. SAFE_GUARDIAN can emergency-pause instantly, but resumption still requires the full governance flow.
Properties enforced on-chain
- 48h timelock on all parameter changes
- Separation of powers across propose, cancel, execute, and pause authority
- Segregated capital paths across Treasury, Operations, and Safety Reserve
- Exit paths preserved even if governance is paused
- Safe signers, thresholds, and history verifiable on-chain
Stewardship
The Multyr Protocol operates under on-chain governance. Multyr Ltd coordinates development, security research, and protocol evolution, but it does not control user funds and does not have unilateral authority over protocol parameters.
Progressive decentralization
Governance is designed to evolve toward broader community participation over time. New mechanics and transitions will still move through the same timelock-gated governance framework described above.