Ethereum layer-2 scaling resolution Optimism is ready to replace its governance system for the second time this yr — this time, with the intent of turning into extra decentralized.
In a weblog publish on Friday, the Optimism workforce said the modifications taking impact Aug. 1 as a part of the “Season 8” revamp will introduce stakeholder voting, a public definition of citizenship and an auto-pass course of for proposals.
“The aim has all the time been to create a governance mannequin designed for a brand new web; now we perceive which means decreasing platform danger by creating accountability the place company governance fashions have failed to take action,” the workforce mentioned.
The earlier season, which lasted from Jan. 16 to June 11, was centered on interoperability.
OP governance goals to cut back platform danger
The Optimism workforce mentioned it has created 4 stakeholder teams: tokenholders, end-users, apps and chains, to make sure all can vote on governance proposals.
“Season 8 takes steps to make sure governance is accountable to all main stakeholders of the Collective, not simply monetary ones, a key weak spot of conventional company and crypto governance fashions,” the workforce mentioned.
“The aim is to cut back the platform danger that anyone stakeholder dominates choice making on the expense of others.”
Citizenship nonetheless in experimentation stage
Two homes govern Optimism: the Token Home and the Residents’ Home. The Residents Home, launched in April 2022, permits one vote per citizen.
The Token Home can vote on points akin to protocol upgrades, sequencer choice and governance fund allocation via token-weighted votes.
Tokenholders will proceed to be represented as a key stakeholder group by way of a token-weighted voting model within the Token Home.
Optimism now additionally has a public definition of citizenship verifiable onchain and has subdivided it into three classes: end-users, apps and chains.
Nevertheless, the workforce additionally mentioned citizenship “stays an experiment” at this level, and present citizenship doesn’t assure it in future updates.
Proposals auto-pass until a stakeholder vetoes
A brand new approval course of will even take impact in August, the place most will observe “an optimistic approval course of,” which permits it to auto-pass until a stakeholder vetoes.
The aim is to make sure busy contributors can nonetheless hold the system in test with out full-time politics, in accordance with the Optimism workforce.
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“Taking part in governance shouldn’t require spending hours studying discussion board posts and navigating advanced paperwork. Being a governance participant shouldn’t be a full time, or half time, job,” they mentioned.
Useful resource budgets will probably be proposed by the finances board and handed until vetoed as effectively. Protocol upgrades are going to be voted on by an unbiased developer advisory board, which can act on behalf of each the Token Home and the Residents’ Home.
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