The new governance system allows token holders to suggest, vote on, and discuss important protocol updates and network changes.
ZKSync, an Ethereum Layer 2 network, has launched a new “community-driven” governance system named ZK Nation. This introduction aligns with the project’s upcoming token generation event and airdrop scheduled for this month, aimed at increasing decentralization across the network.
ZKSync Introduces ZK Nation Governance System
ZKSync has launched ZK Nation, a new “community-driven” governance system aimed at governing, defending, and expanding the ZKSync protocol, according to a blog post from the project.
This governance system empowers ZKSync token holders to actively engage in the protocol’s evolution by proposing changes, voting on upgrades, and discussing network parameter adjustments. ZKSync, developed by Matter Labs, recently faced scrutiny in the crypto industry over its trademark bid for zero-knowledge technology.
ZK Nation emphasizes the importance of maintaining robust social and technical decentralization standards, essential for evaluating rollup maturity. The governance structure includes three on-chain bodies: the Token Assembly, the Security Council, and the Guardians. These entities operate under different legal frameworks to maximize protection and interact through platforms like the initial delegation and voting portal on Tally.
Governance Structure of ZKSync’s ZK Nation
Token Assembly and Guardians: The Token Assembly within ZKSync’s ZK Nation includes token holders who delegate their voting power to representatives. Meanwhile, the Guardians play a crucial role in upholding the values of the ZK Credo by wielding veto power and initiating or approving emergency actions related to the ZKSync network.
Security Council: The Security Council comprises highly skilled technical professionals dedicated to ensuring the protocol and network’s technical security. They provide rigorous technical reviews for approved protocol upgrades, enhancing the overall safety and reliability of ZKSync.
ZKSync’s Commitment to Innovation
ZKSync is dedicated to advancing innovation through zero-knowledge proofs, supporting a verifiable blockchain network that grows continuously. This approach aims to provide digital sovereignty to billions of users, underpinned by a protocol that prioritizes integrity and security.
Important:Â Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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