Polygon will implement 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.

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.

Polygon Labs unveiled the tokenomics parameters for 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.

Source: bitcoinlinux.com