Derify Protocol Documents

eDRF & Governance

How can I participate in community governance?

We will publish all proposals that you can join discussion and vote on. Participation in discussion is a way of contributing in DAO governance. You can participate in community governance through voting (eDRF)

eDRF and Governance

What is eDRF? What is it used for?

eDRF is an equity token of Derify. By burning/using eDRF, you can obtain relevant rights and interests of the protocol, like obtaining broker privilege and broker privilege extension. You can also use eDRF to participate in community governance by voting for proposals

What is the contract address of eDRF?

eDRF is deployed on the BNB Chain, and the contract address is 0x9d1b272B797137d3713f0bA2fA15abcc3a8C2Ef7

What is the tokenomics of eDRF?

eDRF has infinite supply and will be infinitely destroyed/burned. There is no pre-release. All eDRF is minted by staking DRF token. For each staked DRF, 1 eDRF is minted per day. The more DRF staked, the more eDRF will be minted. Buring eDRF, you can obtain broker privilege and extend your broker privilege

Why we use eDRF for governance, not DRF?

DRF is a token representing your economic right that aimed for the value capture of the Derify Protocol. The purpose of adopting eDRF for governance is to separate governance rights and economic rights. We wish to prevent whales who have overwhelming financial advantages and manipulate the voting results.
As we know, whale dominance harms decentralized organization. Although giant whales can still mint a large amount of eDRF by staking DRF. However, according to the proposal #001, the protocol will mint an even larger amount of eDRF, and use it for free community airdrops, thereby improve the decentralization of community governance and allowing more people to have voting rights

How to get eDRF?

You can obtain eDRF for free by staking your DRF, participating in product testing, being active in the community, and experiencing Mainnet product. For specific rules, refer to

Where can I trade eDRF?

eDRF is not being listed on any DEX or CEX at this moment. Community users can spontaneously add liquidity on DEX, for e.g. PancakeSwap. If eDRF is listed on DEX or CEX, we will make announcement to the community. Through join the community governance and get more benefit for yourself. Like DRF airdrop, if you vote more, could get more DRF rewards( Part D).

What is the process of community proposal and voting?

  1. 1.
    Proposal Draft: Any community user can initiate a proposal in the community (for e.g. Discord)
  2. 2.
    Discussion: Community users participate in the discussion of a proposal draft
  3. 3.
    Proposal: The Governance Committee confirms the final proposal based on the content of the proposal draft and community discussion
  4. 4.
    Voting: The Governance Committee designs specific voting rules for a proposal and initiates voting
  5. 5.
    Execution: The Execution Committee takes actions according to the voting results
For details, please refer to the governance rules of DAO:

How can I vote for the proposal?

Users with eDRF in their wallets can vote for the proposal through Derify snapshot ( Voting does not incur any gas and other fees, so you can participate for free

I already have eDRF in my wallet, but why the voting power is still 0?

This mainly depends on the rules of snapshot, please refer to
Last modified 2mo ago