Implicit Governance

Successfully aligned incentives between governance token and platform has proven to be an Achille’s heel which has led to numerous attacks and exploits of DeFi applications across multiple networks.

Papaya’s design incorporates a new & unique governance model called Implicit Governance, which means that while users can participate in governance decisions, there is no governance token tied to these events.

The Implicit Governance model aims to mitigate governance risk by eliminating the use of a governance token altogether and align interests by giving voting power exclusively to users actively participating in the platform who posses a stake in Papaya’s success.