In Sögur, Participants are the sovereign. Accordingly, Sögur’s governance is designed to facilitate genuine representation of Participants and to generate long-term success for the currency. This is achieved through a multi-branch checks and balances governance structure.

* The Sögur project has closed and is no longer active.
Please see the official statement for more information.


Token holders control Sögur. SGR functions both as a currency and the governance token of the Sögur community.

Holders elect the Executive Council, the top management function responsible for promoting the currency’s success and for overseeing its functioning 24/7. Holders also have on-chain veto power for any changes to the monetary model and hold other direct powers.

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Provisional Constitution



Democonomy Voting, developed by Sögur, ensures that both large and small holders are fairly represented. It does so by dynamically balancing between the ‘one holder – one vote’ and the ‘one token – one vote’ voting methods. Thus, it provides incentives for growth of both Sögur’s economy and its network of holders.

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Dramatic social changes occurring globally necessitate updated governance solutions.
Sögur’s governance model combines elements from democratic, decentralized and corporate governance for assuring SGR’s success, while maintaining holders’ control over the project.

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The governance model is implemented in a series of intermediary steps. Currently, we are in Phase 2 which includes the formation of the holders’ Assembly together with a dedicated voting system. The Assembly is responsible for electing, dismissing and overseeing the Executive Council, as well as for aspects of reserve and liquidity management.


Holder’s Sovereignty from Theory to Practice

04 January, 2021
The first steps taken in implementing Sögur's governance model included forming the token holder's Assembly, holding Democonomy voting and the possibility to replace the project's Executive Council

First-ever participants’ vote: Changes to the Monetary and Governance Model; and introducing Sögur

07 September, 2020
Between 2 and 6 September 2020, Saga held its first-ever participants' vote — exercising for the first time the project’s purpose-built democratic voting model.

Saga's First-Ever Vote

28 August, 2020
We're excited to share that on 2 September, 2020, we will be commencing the first-ever participants' vote. The outcome of the vote will shape the future of our project on its path to becoming a global currency.

Why What you Think is Stable is Not Really Stable at All

16 March, 2020
Global markets have been enduring a rocky week, to put it mildly. The coronavirus spread, coupled with oil price wars, have put a dent in everything from stocks to commodities. Fear is also contagious, it transpires, and when world markets nosedive, few assets are spared.

Montesquieu Goes Digital: Introducing Saga’s Governance Model

26 August, 2019
Part IV of IV: Saga presents the institutions that will effectively represent the currency holders. The model: A synthesis between nation-states and decentralized systems

Resolving the Stake-Based vs. Participant-Based Voting Dilemma

01 July, 2019
Our previous post outlined what we learned from existing governance systems when we designed Saga’s future governance model and concluded with an outline of Saga’s proposed multi-branch structure.

Breaking Free from the Consumer-Citizen Deadlock

25 June, 2019
How does Facebook’s Libra relates to the current frustration of individuals from their governments and why will it probably only make things worse? Ido Sadeh Man provides answers

Brexistentialism  -  A Crisis of Identity

06 June, 2019
The deadlock between the UK and the EU is only the symptom to a deeper cause: A breakdown of a decades-long definition of a British form of governance. Ido Sadeh Man provides a unique angle to the imminent Brexit

On The Path to Governance: Questions Unfold

13 May, 2019
Part II of IV: We unfold the many questions we encountered in the process of developing a viable governance framework

On the Path for Viable Governance of a Global Currency

19 April, 2019
Part I of IV: How We Woke Up from the Folly of Fully Decentralised Governance.

When It Comes to the Future of Money, Who Do You Trust?

26 March, 2019
Our Chief Economist, Barry Topf, explains why the current debate surrounding blockchain and cryptocurrencies misses the most fundamental questions.

The Saga Begins

03 October, 2018
Let’s get clear on virtual money. We’ve been here before. Going back-to-basics, learning from the best, there’s a chance to get this right.

A Broad View of Saga

27 August, 2018
This blog post sets out Saga’s stall on several key matters: the role of fiat currency; the issue of volatility; the importance of interdisciplinary knowledge; earning trust and the cost of change; a rationale for participant identity.


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Governance Model

Sögur’s Participants require a governance system for exercising their sovereignty over Sögur. This document presents the intended governance model and describes its seven main features. It also presents the fundamental principles and values that are the basis of the model’s design.

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Provisional Constitution

The provisional constitution states Sögur’s essential framework of rules and norms. It delineates how the Participants’ sovereignty is legally and structurally established. The Provisional Constitution will serve Sögur until a permanent constitution is ratified by Sögur’s Assembly - a governance entity defined in this document and scheduled to be set up within 24 months following the launch of the Sögur currency.