Polygon Labs Announces New Governance Framework for Polygon Ecosystem

Polygon Labs has proposed a forward-looking framework for decentralized ownership and decision-making for all Polygon protocols and the ecosystem. The proposed framework defines three governance pillars, namely Protocol Governance, System Smart Contracts Governance, and Community Treasury Governance.

Other key features include the Polygon Improvement Proposal (PIP) framework extension, the introduction of an 'Ecosystem Committee', a community-governed body responsible for upgrading system smart contracts and community treasury governance for funding promising eco-projects.

Related: Polygon Proposes Upgrading $MATIC to Multipurpose Token $POL

Polygon Labs Proposes to Upgrade Polygon PoS Chain to ZK Layer2