Enhancing Protocol Governance Through Transferable Locks

Objective: To increase participation in governance and utilization of veEXTRA by advocating for the implementation of transferable locks.

Background: Currently, only approximately $4.2 million worth of veEXTRA controls vital protocol functions, which falls short when dealing with larger borrowing demands. This limits effective governance and security measures.

Proposal: Introduce transferable locks to make locking more liquid, enabling broader participation in governance. This mechanism will enhance security and lock EXTRA in the process, ensuring robust protocol functioning.

Benefits:

1. Increased Participation: Transferable locks will encourage more holders to engage in governance, diversifying input and decision-making.

2. Liquidity: Locking mechanisms become more flexible, accommodating larger amounts of locked value without compromising liquidity.

3. Enhanced Security: More locked EXTRA strengthens protocol security, safeguarding against potential risks.

Conclusion: By advocating for transferable locks, we can foster a more robust and inclusive governance ecosystem while enhancing protocol security. This proposal aligns with Extra's commitment to decentralization and community engagement, paving the way for a stronger and more resilient protocol. (Written with the help of ChatGPT)