Polygon Unveils New Decentralized Governance Framework for Polygon 2.0
Polygon, a leading cryptocurrency network, has unveiled its plans to establish a new governance framework for enhanced decentralized control over its ecosystem. The initiative, known as Polygon 2.0, aims to develop a network of zero-knowledge-powered Layer 2 chains. The new governance model will consist of three pillars: core protocol governance, smart contracts governance, and community treasury governance. Drawing inspiration from Ethereum’s successful governance models.
The governance proposal has undergone extensive community deliberation, with feedback and ideas from validators, users, developers, and ecosystem participants. The community has full control over the network and will have the final say on all proposals. The forward-looking governance framework promotes decentralized ownership and decision-making across all Polygon protocols and the ecosystem. The three governance pillars provide a topology for decision-making mechanisms within the ecosystem. Protocol governance is facilitated through the Polygon Improvement Proposal (PIP) framework, allowing for coordinated upgrades proposed by internal and external actors.
