Ethereum layer-2 scaling answer 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 put up on Friday, the Optimism crew mentioned 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 at all times been to create a governance mannequin designed for a brand new web; now we perceive which means reducing platform threat by creating accountability the place company governance fashions have failed to take action,” the crew mentioned.
The earlier season, which lasted from Jan. 16 to June 11, was centered on interoperability.
OP governance goals to cut back platform threat
The Optimism crew 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 point of conventional company and crypto governance fashions,” the crew mentioned.
“The purpose is to cut back the platform threat 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 resembling protocol upgrades, sequencer choice and governance fund allocation by means of token-weighted votes.
Tokenholders will proceed to be represented as a key stakeholder group through a token-weighted voting mannequin 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 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 may also 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 purpose is to make sure busy contributors can nonetheless maintain the system in examine with out full-time politics, in response to the Optimism crew.
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“Taking part in governance mustn’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 is able to act on behalf of each the Token Home and the Residents’ Home.
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