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Polygon's Council Formation and 13 Member Appointments for Decentralized Governance

Oct 24, 2023 at 08:25 am

Polygon, a well-known player in the Ethereum blockchain scaling arena, is making strides toward decentralized governance. They've introduced the concept of a "Polygon Protocol Council," consisting of 13 inaugural members, including key individuals from Coinbase and the Ethereum Foundation.

This proposal, known as PIP 29, assumes responsibility for overseeing specific, time-locked adjustments to Ethereum's smart contracts, affecting both present and potential Polygon protocols. The Polygon Protocol Council's primary role is to guide the community-led process for introducing forthcoming upgrades, particularly focusing on those aligned with the Frontier phase of Polygon 2.0.

The council's membership showcases a diverse range of individuals from the broader blockchain community. Notable personalities among them include Viktor Bunin, a protocol specialist linked with Coinbase; Justin Drake, a researcher associated with the Ethereum Foundation; Zaki Manian, co-founder of Sommelier Finance; and Jordi Baylina, a technical leader representing Polygon Labs, the driving force behind the Polygon project.

The founding participants of Polygon's 'Protocol Council'

The founding participants of Polygon's 'Protocol Council'

An important aspect to highlight is that any modifications to the Polygon blockchain proposed by council members will be executed via Gnosis Safe contracts, as clarified in the press release.

This significant announcement, unveiled on Thursday, seamlessly aligns with the overarching Polygon 2.0 roadmap, which was introduced in June. The roadmap encompasses a series of proposals and upgrades collectively aimed at reshaping the foundational structure of the blockchain.

The genesis of the idea for a "community-controlled Ecosystem Council security model" can be traced back to a post published in June by a representative from Polygon Labs, underscoring their pivotal role as the primary developer for various Polygon networks.

Polygon underscores that this proposal marks the initial stride in their pursuit of a more decentralized governance paradigm for Polygon protocols. The community's active participation in determining the council's membership and operational framework will be facilitated through direct feedback, Polygon Improvement Proposal (PIP) submissions, and on-chain voting components in the near future.

Read more: Polygon Unleashes 'ApeChain' and $3.35 Million Development Fund, Revolutionizing ApeCoin's Ecosystem

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