How governance works in a Luxembourg SCSp

LP rights vs. DAO voting

In a typical DAO, token holders vote on proposals that the treasury is contractually bound to execute. The mechanism is democratic, permissionless, and often Sybil-vulnerable. In a Luxembourg SCSp, LP holders do not vote on operations — they delegate operational authority to the General Partner (GP). LP rights are instead concentrated in three areas.

1. Information rights — quarterly reporting, audited annual accounts, asset-verification attestations, material-event notices.
2. Consent rights — major changes to the LP agreement, amendments to the investment mandate, removal of the GP in defined circumstances.
3. Exit rights — per the LP agreement, including any secondary-market transfer provisions, redemption windows, and dissolution protections.

Observer seats and advisory committees

Material LP holders may be invited to observer seats on GP advisory committees. These committees provide non-binding input on investment decisions, distribution schedules, and strategic matters. Observer participation is typically scaled by commitment size.

Community governance (informal)

Separate from formal LP governance, the RWA Nickel community operates an informal governance layer: feedback on educational priorities, community-program direction, ambassador-program selection. This community input has no binding authority over the SCSp but shapes how the authority network communicates and prioritises.