Optimism targets decentralization with ‘season 8’ governance revamp

Ethereum layer-2 scaling solution Optimism is acceptable to update its governance strategy for the 2nd clip this twelvemonth — this time, with the intent of becoming much decentralized.

In a blog station connected Friday, the Optimism squad said the changes taking effect Aug. 1 arsenic portion of the “Season 8” revamp volition present stakeholder voting, a nationalist explanation of citizenship and an auto-pass process for proposals. 

“The extremity has ever been to make a governance exemplary designed for a caller internet; present we recognize that means lowering level hazard by creating accountability wherever firm governance models person failed to bash so,” the squad said. 

The erstwhile season, which lasted from Jan. 16 to June 11, was focused connected interoperability.

OP governance aims to trim level risk

The Optimism squad said it has created 4 stakeholder groups: tokenholders, end-users, apps and chains, to guarantee each tin ballot connected governance proposals. 

Source: Optimism

“Season 8 takes steps to guarantee governance is accountable to each large stakeholders of the Collective, not conscionable fiscal ones, a cardinal weakness of accepted firm and crypto governance models,” the squad said. 

“The extremity is to trim the level hazard that immoderate 1 stakeholder dominates determination making astatine the disbursal of others.” 

Citizenship inactive successful experimentation stage 

Two houses govern Optimism: the Token House and the Citizens’ House. The Citizens House, introduced successful April 2022, allows 1 ballot per citizen. 

The Token House tin ballot connected issues specified arsenic protocol upgrades, sequencer enactment and governance money allocation done token-weighted votes. 

Tokenholders volition proceed to beryllium represented arsenic a cardinal stakeholder radical via a token-weighted voting model successful the Token House.

Optimism present besides has a nationalist explanation of citizenship verifiable onchain and has subdivided it into 3 categories: end-users, apps and chains. 

Two houses govern Optimism, the Token House and the Citizens’ House. Source: Optimism

However, the squad besides said citizenship “remains an experiment” astatine this point, and existent citizenship doesn’t warrant it successful aboriginal updates. 

Proposals auto-pass unless a stakeholder vetoes

A caller support process volition besides instrumentality effect successful August, wherever astir volition travel “an optimistic support process,” which allows it to auto-pass unless a stakeholder vetoes.

The extremity is to guarantee engaged contributors tin inactive support the strategy successful cheque without full-time politics, according to the Optimism team. 

Related: ASTR becomes OP Superchain’s archetypal interoperable token via Chainlink CCIP

“Participating successful governance should not necessitate spending hours speechmaking forum posts and navigating analyzable bureaucracy. Being a governance subordinate should not beryllium a afloat time, oregon portion time, job,” they said. 

Resource budgets volition beryllium projected by the fund committee and passed unless vetoed arsenic well. Protocol upgrades are going to beryllium voted connected by an autarkic developer advisory board, which volition enactment connected behalf of some the Token House and the Citizens’ House.

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