Polygon Labs has proposed a restructuring of the governance mechanism for the upcoming Polygon 2.0 roadmap, which seeks to create multiple layer-2s on the network. The new governance structure would consist of three main pillars, each pertaining to a specific function. The first pillar would be the expansion of the Polygon Improvement Proposal (PIP) framework, allowing users to propose and research upgrades for Polygon protocols. The second pillar would be a System Smart Contracts Governance that facilitates upgrades for protocol changes or software that is implemented as a smart contract. This would be overseen by an Ecosystem Council, elected and governed by the community. The third pillar is a Community Treasury governance mechanism that supports the Polygon ecosystem’s growth and funds projects. This will be managed by an independent Community Treasury Board, eventually transitioning to community-driven governance. Polygon Labs has urged the ecosystem’s stakeholders to discuss the governance plans as these are subject to community approval.
Polygon Labs Proposes Restructuring of Governance Mechanism for Polygon 2.0
