Jax.Money is a fully decentralized platform, supervised by an elected governor. Similar to a leader of any organized community, the governor brings clarity and precision to the system. He has a number of responsibilities that help Jax.Money operate successfully.
First of all, he sets the size of markup and transaction fees. That means that those fees aren’t fixed and they may vary from day to day. The value collected in fees goes to a special pool, from where it will be distributed in the form of yield. It shouldn’t come as a surprise, that the governor is also responsible for yield distribution. He sets the percentage of yield payouts for every category of economic actors, namely liquidity providers, VRP token holders, and the governor himself.
The governor has some boundaries though. He can’t make the payout percentage higher than 10% for himself and lower than 20% for VRP token holders, and 25% for liquidity providers. The same is true for fees. The transaction fee can’t go above 3%, while the markup fee is limited to 2.5% max.
The governor’s field of responsibility also includes whitelisting currency pairs, bridges, and liquidity providers. So, he can both add and delete them as he likes. And last but not least, it’s the capability of freezing the platform in the case of an emergency.