Governance & Controls
Overlayer's governance model separates protocol administration, backing controls and revenue distribution. Administrative permissions are limited to defined functions, while specified changes that materially affect backing or redemption require delayed execution.
Governance model
Execution is initially Foundation-led, with community participation providing signaling, feedback and direction. Sensitive administrative control uses Gnosis Safe multisignature infrastructure, rather than relying on a single private key.
The intended progression is toward shared governance and broader binding on-chain participation. This is a gradual transition, not a claim that all protocol decisions are already controlled by token-holder votes.
For the governance token, see OVER Tokenomics.
Administrative roles
Responsibilities are divided between roles with different permissions.
| Role | Responsibility |
|---|---|
| Default Admin | Coordinates defined administrative functions and protocol configuration. |
| Gatekeeper | Executes defensive actions, including disabling minting and pausing supply to the backing venue. |
| Controller | Operates restricted-account functionality after the corresponding mechanism has completed its activation delay. |
| Collateral Manager | Manages permissions for contracts authorized to interact with collateral. |
| Reward-related roles | Operate defined reward flows without controlling the principal backing Overlaid Assets. |
Assigning a role does not bypass the execution rules attached to its functions. A sensitive modification remains subject to its required delay, regardless of which authorized role initiates it.
Timelocks on sensitive changes
Relevant sensitive changes require a non-bypassable delay of at least 14 days before they can take effect. The proposed change is observable during the waiting period, giving users and integrations time to assess it and adjust their exposure.
Proposal → Public waiting period → Execution
The delayed process covers changes to:
| Control | What it affects |
|---|---|
| Lending venue | The external venue receiving underlying capital. |
| Collateral spender | The contract authorized to interact with collateral. |
| Staking backing contract | The backing contract used by a Staked Overlaid Asset. |
| Max Redeem Per Block | The protocol-level limit on redemption within a block. |
| Blacklist activation | Activation of restricted-account functionality. |
Blacklist activation must complete its delayed process before the corresponding restrictions can be applied. Account restrictions after activation are handled by the authorized role under the contract's rules.
Operational and economic controls
Defensive actions and changes to backing infrastructure follow different execution rules. The Gatekeeper can disable minting or pause supply to the backing venue immediately, while replacing backing infrastructure follows the sensitive-change process.
Economic controls govern the distribution of generated value, including reward allocations, buybacks and Foundation distributions. They operate separately from the principal supporting outstanding Overlaid Assets.
Changing revenue allocation does not, by itself, grant authority to redirect user backing. Economic distribution changes are not automatically subject to the backing-protection timelock.
For the applicable performance fee, see Fees.
Verifying changes
Sensitive proposals and administrative actions can be reviewed through their on-chain records. Relevant details include the affected component, the proposed change, its proposal time, when it becomes executable and whether it has been executed or cancelled.
The governance model is designed to preserve bounded authority, delayed sensitive changes and transparent execution as participation expands.
For the protocol's contract references, see Contract Addresses.