Polygon, a leading blockchain platform, has unveiled its plans to establish a new governance framework aimed at achieving greater decentralization within its ecosystem.

This initiative is in line with the platform’s roadmap, Polygon 2.0, which focuses on developing a network of Layer 2 chains powered by zero-knowledge technology.

Under the new governance model, Polygon will establish “three governance pillars” to oversee the core protocol, smart contracts, and community treasury governance.

Drawing inspiration from Ethereum’s successful governance models, Polygon aims to incorporate similar principles and community-building techniques, as outlined in a recent blog post.

One of the key components of the new governance framework is the expansion of the Polygon Improvement Proposal (PIP) framework.

This will allow stakeholders to propose and discuss enhancements to the Polygon ecosystem. Additionally, an “ecosystem council” will be introduced to facilitate system smart contract upgrades, ensuring active participation from community members.

Furthermore, the two-phase community treasury governance will be implemented to allocate funds to promising projects within the Polygon ecosystem.

This will enable the community to have a say in the allocation of resources and support initiatives that drive the platform’s growth.

Polygon is actively encouraging stakeholders, including validators, dApp developers, and users, to actively participate in shaping the platform’s governance.

By fostering a decentralized ownership and decision-making framework, Polygon aims to create a robust ecosystem that benefits from the collective wisdom and contributions of its community.