Ethereum layer-2 scaling resolution Optimism is about 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 crew said the adjustments 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 purpose has all the time been to create a governance mannequin designed for a brand new web; now we perceive meaning decreasing platform danger by creating accountability the place company governance fashions have failed to take action,” the crew stated.
The earlier season, which lasted from Jan. 16 to June 11, was targeted on interoperability.
OP governance goals to scale back platform danger
The Optimism crew stated 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 point of conventional company and crypto governance fashions,” the crew stated.
“The purpose is to scale back the platform danger that anyone stakeholder dominates resolution 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 comparable to protocol upgrades, sequencer choice and governance fund allocation by way of 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 crew additionally stated citizenship “stays an experiment” at this level, and present citizenship doesn’t assure it in future updates.
Proposals auto-pass except a stakeholder vetoes
A brand new approval course of will even take impact in August, the place most will comply with “an optimistic approval course of,” which permits it to auto-pass except a stakeholder vetoes.
The purpose is to make sure busy contributors can nonetheless hold the system in test with out full-time politics, in line with the Optimism crew.
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“Collaborating in governance shouldn’t require spending hours studying discussion board posts and navigating complicated forms. Being a governance participant shouldn’t be a full time, or half time, job,” they stated.
Useful resource budgets might be proposed by the finances board and handed except vetoed as properly. Protocol upgrades are going to be voted on by an impartial developer advisory board, which can act on behalf of each the Token Home and the Residents’ Home.
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