Execution
Governing protocol parameter changes
Parameters change often and matter immediately. They need a lane that is quick without being unguarded.
Bound the range, then delegate
Let a risk committee move a parameter within a governance-approved band, and require a full vote to move the band.
Publish the rationale with the number
A parameter proposal should state the model, the data and the expected effect, not just the target value.
Watch the aftermath
Set a review date at proposal time so a change that misbehaves is revisited rather than forgotten.