Governance is still in a design phase, but this document will outline some of the desired key features.


Governance plays the most important role in Probity, maintaining administrative authority over the entire system. Such permissions include replacing modules, initializing new assets, updating system parameters, and adding new address to Registry. Since governance holds absolute power over Probity, it is important that the governance system be secure, flexible and functional for daily use.

Key Features

While any address can act as governance, including an externally-owned account (EOA), governance contract systems can also include the following features to ensure that Probity is fully decentralized.

PBT Governance Token

PBT is the governance token given to investors as they accrue interest from system. Utilizing the PBT token in a governance system allows investors to have a say in the process based on the size of their investment position over time.

Permission System

A governance module should have a permission system that allow various EOAs (or even other contracts) to interact with the system through the governance contract. This will be important for the maintainer of Probity ho must call specific functions in during normal operation (e.g., a risk manager can be given permission to update the liquidation penalty as the risk profile of an asset changes).

Proposal, Voting & Implementation

For any major changes in personnel or the system, a proposal should be made with a list of changes. PBT token holders will vote on whether or not the proposal is accepted.