Voting is live! Are you ready to shape the future of Cardano's OG lending and borrowing protocol?
@LenfiOfficial community, the time has come to vote with your wallet on-chain, in what is the protocols most important governance action to date! You can vote now:
app.lenfi.io/governance
Transfer Lenfi DAO & Project Assets to a Multisig Wallet & Community Custodian...
Currently, the Lenfi DAO treasury and LP tokens are managed by the Lenfi team. The X account, branding, domain, source repositories and other assets are also held by the team under their Lithuanian entity...
This centralization of control presents potential risks to the team/core contributors, ongoing protocol operations/development and the Lenfi community as a whole limiting it's involvement in defining the projects future...
After an initial off-chain governance vote, the Lenfi community acknowledged the proposals alignment with the DAO’s commitment to decentralization, progressing the governance action to a final on-chain LENFI token weighted vote...
So what are you voting for?
By voting in favor of this proposal you support the following actions:
🔹Transfer the Lenfi DAO assets to a 2/4 multisig wallet controlled by 4 community-elected key holders (detailed within the proposal). This includes the treasury containing 120,000 ADA, 14,370,000 LENFI and 358,121 ADA LP position.
🔹 Share the digital keys/passwords with Neo (Lenfi community manager) and signing rights to him as an interim custodian. This includes: Lenfi official X account, Lenfi source repositories, Lenfi domain, branding and other assets associated with the project.
🔹Explore the setup of a Lenfi Wyoming DAO LLC so that the protocol can operate with less personal risk to the team & core contributors.
This shift not only secures the DAO and the projects valuable assets but crucially will empower token holders to actively participate in shaping Lenfi’s strategic direction moving forward.
The on-chain vote is now live and will close Jun 29, 2025, 10:45 PM GMT...
The most battle tested OG Cardano DeFi protocol is about to take a major step toward decentralizing its community controlled governance!
Vote here:
app.lenfi.io/governance