The primary goal of this paper is to promote further research, development, and adoption of on-chain governance by presenting ideas for how today’s systems can potentially improve. It was written with the intent to encourage thought-provoking discussions that might challenge the status quo and bring fresh, innovative perspectives in governance design. Before delving into the intricacies of protocol governance, it's crucial to establish what a protocol actually represents. In the scope of this paper, a protocol is defined as a set of rules, implemented and enforced by smart contracts on the blockchain, that offer utility to digital assets. In simpler terms, protocols are the code that create uses for digital assets on the blockchain. Blockchain protocols are exceptional due to the characteristics of their underlying technology: credibly neutral, deterministic, and eternally persistent. Every user has unequivocal access to the same underlying utility of a blockchain protocol. The system harbors no implicit biases or special exceptions, unless explicitly programmed in that manner. This is the beauty of crypto protocols: they function as global public utilities, indiscriminately and permanently delivering benefits to individuals all around the world. Anyone acquainted with the current crypto ecosystem would know that most 'protocols' today fall short of this ideal. Often times, crypto protocols resemble unregistered businesses, operating manually and with various points of authorized access. For these protocols, without a trusted team to facilitate protocol operations, they are likely to fail.

This document outlines the governance system for OlympusDAO V3 (Bophades). Dependencies The governance system requires two Module dependencies and their respective permissions: INSTR, used for storing arrays of Kernel instructions as proposals permission to call INSTR.store(); VOTES, an ERC20 token used for counting voting power by address