Governance of Ref Finance

Ref Finance
2 min readJul 1, 2021


Ref is first and foremost a community project. To formalize this, a DAO has been created to allow the community to direct the project. The DAO will be responsible for managing the treasury initially, and shortly thereafter, managing upgrades of the protocol.

Votes will be structured so that the largest group either approves or rejects the proposals.

Initial DAO Structure

The Ref DAO has two roles: the council and the community board. The current council is made up of four project stewards, and the community board is made up of 20 highly-engaged community members. Over time, more roles will likely be added, and some may be changed or removed (including the council).


The council can create proposals and vote on them. If the majority of the council confirms or rejects a proposal, that decision will stand. Initially, only the council can make proposals. This will be changed once the DAO is operating efficiently.

Community Board

The community board can vote on proposals. If the majority of the community board confirms or rejects a proposal, that decision will stand. In most cases, the council will defer to the community board’s decision, and refrain from voting.

First Proposal

The first proposal is whether or not to create a $REF token to support the ecosystem:

How to Vote

If you are a member of the DAO (council or community board), you can vote on any active proposals.

To login to the DAO:

  1. Go to
  2. Click “Sign In” in the upper right hand corner
  3. Confirm the transaction in your NEAR Wallet

Next, you will see the active proposals you can vote on:

To vote “Yes”, select the green thumbs up button.

To vote “No”, select the red thumbs down button.

If you think the proposal should be discarded and not voted on, select the yellow trash can button.

Get Involved

If you aren’t yet a member of the DAO, and would like to be, get involved with the community!

We’re looking to add new members, and want to your help and feedback to help make Ref one of the top products in DeFi.

Join the Discord

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Ref Finance

Ref Finance is the starting point to the NEAR Ecosystem with a leading AMM & a synchronous #DeFi Shard.