# V3 - Governance Integration

* Launch of **$PEN token** as the protocol’s governance token
* Deployment of the **Pencil DAO** for community-led decision-making:
  * Voting on lending partner whitelisting, protocol parameters, and fee structures
* Full **decentralization of fund and treasury management**
* Enhanced **performance analytics**, including:
  * Historical yields
  * Default rates
  * Real-time bundle health metrics
* Institutional-grade **reporting and compliance tools**
* Introduction of **liquidity mining** for ecosystem incentives
* Support for **liquidity staking** using $PEN or other assets
* Launch of additional **structured yield products** to diversify investor strategies


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