This section covers the reasoning behind progressive and modular decentralization.
The Morpho Association believes that a progressive and modular approach to decentralization is the key to Morpho’s success. By organizing governance into various components, we can ensure that each one advances at its own pace, according to what is relevant at the time. The governance architecture must adapt to meet unique needs to best navigate different stages of the protocol.
In the early stages, having clear direction and the ability to make quick decisions is crucial. But even while operating in a not fully decentralized environment, the association prioritizes transparent communication, comprehensive protocol documentation, and open-source code. The DAO must be involved in all changes made to the protocol through a community vote triggered by a Safe 5/9.
As the first version of the protocol matures, the power of the Safe will gradually fade, transitioning first to a veto-only role, then to no possibility of acting on the protocol, leading the protocol to be fully decentralized. The multisig remains in place for the DAO, to design Morpho token distribution and initiate future versions of the protocol, distinct from the V1.
The ambition and commitment is to achieve full decentralization by 2025, with a DAO equipped with all the tools needed to fulfill its mission.