Neverland Governance Is Live

Neverland Governance is officially live on Monad

Neverland Governance is officially live.

From the beginning, Neverland was designed around the idea that the people participating in the ecosystem should help shape its future. Governance is a core part of that vision. Through veDUST, the community is able to participate directly in important protocol decisions, helping guide the long-term direction, sustainability, and growth of Neverland.

This is a milestone not only for Neverland, but for the entire Monad ecosystem, as the first live governance system to allow governance token holders to vote directly on proposals that will shape the future of the protocol. Today marks the beginning of Phase I governance.

A Practical Approach to Governance

Phase I is intentionally designed to be lightweight, practical, and adaptable. Rather than overcomplicating governance from day one, our focus is on building healthy participation habits, establishing clear governance processes, and gradually decentralizing over time as the ecosystem matures.

We do not believe meaningful decentralization happens overnight.

Early-stage governance comes with unique realities: circulating supply is still relatively low, governance participation is still developing, and operational structures are still evolving. Neverland’s governance framework is designed to evolve progressively alongside the DAO itself, introducing broader decentralization and governance responsibility as participation, distribution, and the ecosystem continue to grow.

Governance Structure

During Phase I, governance responsibilities are separated into two areas: operational and directional governance.

Operational responsibilities will continue to be handled by the core team. This includes day-to-day ecosystem coordination, partnerships, protocol operations, product improvements, communications, and ongoing execution. The purpose of this structure is to allow Neverland to continue moving efficiently during its early growth stages without unnecessary governance bottlenecks slowing development and ecosystem expansion.

Directional governance is where the community becomes actively involved. Decisions surrounding protocol direction, governance framework changes, asset listings, and other strategic protocol matters will move through Neverland’s governance process.

Emergency actions remain under the authority of the Sentinel Safe (Emergency Council), which retains limited powers to pause or freeze protocol functionality in the event of exploits, oracle failures, security incidents, or other critical risk events. This authority exists strictly to protect users and protocol integrity during emergencies.

Request For Comment (RFC) Process

Governance discussions begin through RFCs (Requests For Comment), which are publicly discussed on the Neverland Governance Forum.

Community members are encouraged to submit RFCs directly. RFCs are expected to clearly explain the problem being addressed, include supporting research or reasoning, and propose a realistic solution or implementation path.

During Phase I, there is intentionally no fixed minimum discussion period before proposals advance to voting. Instead, proposals are allowed to mature organically through public discussion while the team acts as a governance facilitator, helping determine when proposals are sufficiently complete and actionable enough to proceed to a formal vote.

This approach allows governance discussions to remain flexible and productive while helping prevent rushed or incomplete proposals from prematurely reaching a vote.

Neverland Governance Votes (NGVs)

Once an RFC is ready, it may advance to an NGV (Neverland Governance Vote), which takes place through Neverland’s governance voting system.

The governance system includes delegation support, including time-limited delegation. Governance participation is designed to remain flexible and accessible while still encouraging long-term alignment through veDUST participation.

Voting Rules

Phase I voting mechanics are intentionally simple and transparent. Each NGV lasts for 7 days.

When a vote begins, a snapshot of all voting power is taken. A user’s voting power for that specific vote remains fixed for the duration of the voting period, even if their veDUST balance changes afterward. Voting power is based on veDUST power at the time of the snapshot, including the effects of lock duration and veDUST decay. Voting power is not based on liquid DUST balances or simply the total amount of locked DUST alone.

In order for a vote to be considered valid, an initial quorum of at least 500,000 veDUST voting power must participate. If quorum is not reached, the proposal is nullified due to insufficient participation. If quorum is reached, the option receiving a simple majority of votes determines the outcome of the proposal.

The initial quorum threshold serves as the starting point and may evolve over time. As governance activity and participation patterns become clearer through real proposal data, quorum requirements may be adjusted to better reflect meaningful community participation.

Execution

The approval of an NGV establishes the intended direction and outcome approved by the DAO. Operational execution, implementation planning, coordination, and development responsibilities remain with the core team, which is responsible for organizing and carrying out the actions required to fulfill the proposal’s objective. Final onchain execution and administrative actions are performed asynchronously through the protocol multisig and governance infrastructure via the protocol’s timelock lanes.

Governance Will Continue Evolving

Phase I establishes the initial governance framework of Neverland. It is an introductory framework designed to establish strong foundations while remaining flexible enough to evolve over time. As the DAO matures, participation grows, and governance processes continue developing, Neverland Governance itself will continue evolving alongside the ecosystem.

Future governance structures, expanded decentralization mechanisms, and additional community governance responsibilities may all be explored collaboratively over time as Neverland continues to grow.

This is only the beginning. Welcome to Neverland Governance.

Website ✦ 𝕏 ✦ Discord ✦ Docs ✦ Governance ✦ Vote ✦ Telegram ✦ Reddit