Velora Proposes Governance Changes to Focus on VLR Token Decisions

Velora, formerly known as Paraswap, has introduced a new governance proposal. According to Foresight News, the proposal outlines several key changes, including a focus on structural decisions related to the VLR token, the termination of the staking program and cessation of reward distribution, the closure of the DAO treasury with remaining funds allocated for infrastructure services, and the discontinuation of DAO-level fee routing. Additionally, the proposal suggests updating the multi-signature configuration to align with governance scope. The proposal asserts that these changes will not affect the token supply, unlocking schedule, token distribution, or the transferability of VLR. Moving forward, governance will concentrate on structural decisions impacting the VLR token, while protocol operations and infrastructure will continue to be supported by the project development team.