Liquid Federation Structure
Functionaries
Functionaries run specialised HSM hardware to confirm transactions and secure the network’s Bitcoin funds.
Members
In addition to the ability to peg-out Liquid Bitcoin, Liquid members vote on board elections and network updates.
Full Nodes
Liquid full nodes ensure functionaries are behaving correctly by verifying transactions and peg-ins.
Liquid Federation Boards
Liquid governance is maintained by three boards responsible for membership, oversight, and technology. Each board consists of five federation members that are voted on annually by the federation.
Membership Board
Develops criteria and provides recommendations for membership inclusion or removal.
Oversight Board
Recommends internal rules for membership structure and management, and oversees the network’s status.
Technology Board
Works with Blockstream to develop a technical roadmap based on the needs of Liquid Network members.
