The Polygon team introduced a new protocol management model


As part of the roadmap, Polygon 2.0’s layer 2 Ethereum networks will form a so-called ecosystem council to more decentralize control.

The prerogative of the structure will be updating the system of smart contracts.

To provide greater visibility into the council’s activities, a transparency dashboard will be introduced. This open source tool is designed for community tracking of upgrade transactions and their lifecycle.

The other two “pillars of governance” will be core protocol and treasury management. The latter involves the introduction of two-stage voting by the community to fund projects. A specific scheme has yet to be chosen.

Data: Polygon Labs.

The model also includes an extension PIP for the entire ecosystem stack.

When creating, the developers relied “on the spirit and methods of building Ethereum communities.”

The team invited all stakeholders to form the guide, including validators, dapps developers, and users.

Recall that Polygon Labs presented the parameters of the tokenomics of the next iteration in July 2023. One of its steps is to replace MATIC utility tokens with Polygon (POL).

A month earlier, the developers revealed the proposed architecture of Polygon 2.0.

Previously, ForkLog presented material on the differences between governance tokens and utility tokens.

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