Governance

The protocol is fully governed by the Atoll Protocol DAO. Currently, the voting credential is ATOLL, which will transition to veTokens (e.g., veATOLL, ATOLL-atETH LP tokens or Balancer 80-20 ATOLL LP tokens, ...) in the future to better serve the DAO.

To better control the protocol and provide rapid market feedback, the actual control of the protocol is divided into the following roles:

• Governance: A multi-signature wallet with a time lock that implements resolutions passed through voting and has the highest authority. It also controls the protocol treasury.

• Keeper: Appointed by the Governance, the keeper is essentially an off-chain bot that invokes interfaces within the AMOs through an automated monitoring system to earn profits for the protocol through AMO operations. Since governance actions require voting, multi-signature signing, and time locks, operations that need quick responses will be performed by the keeper. Strict limitations are placed on the permissions and invocation frequency of the keeper to ensure that even if the keeper loses control or the private key is stolen, it cannot cause losses to the protocol. Governance can appoint a new keeper in such cases.

• Profit Manager: Appointed by the Governance, the profit manager is responsible for receiving and distributing weekly AMO profits. Because AMO profits come in various forms and need to be redistributed for different purposes, such as incentive for liquidity pools, treasury reserves, staking rewards, etc., a separate role handles this. The profit manager has no actual operational permissions for the protocol, except for the pause permission to quickly respond to emergencies, and cannot interact with other contract interfaces. The profit manager only receives weekly profits and does not touch treasury assets. Each week, the profit manager will prepare an income and expenditure report, which will be reviewed by the Atoll Protocol DAO and executed according to the plan. For other treasury allocation funds outside of the weekly AMO profits, which may be substantial, they should be operated by the governance multi-signature after a DAO vote.

• Security Manager: Appointed by the Governance, it only has the ability to pause some functions of the Atoll Protocol smart contracts under emergency. Unpausing these requires Governance taking actions. This can be later assigned to a security service provider to monitor the Atoll Protocol smart contracts.