Polygon Labs has proposed the first members of the Polygon Protocol Council. The inaugural set of Protocol Council members will authorize critical tech upgrades on Polygon (MATIC) via a multi-signature wallet.
Polygon Protocol Council kicks off: Who is on list?
The pioneering generation of Polygon Protocol Council is proposed via a PIP-29 activation. As the protocol migrates to Polygon 2.0, members will be entitled to approve changes to the technical design of the new blockchain, as announced by Polygon Labs today, Oct. 19, 2023.
The first iteration of the Polygon Protocol Council includes top-tier cryptocurrency innovators in technology, marketing, R&D, community growth, cybersecurity and so on. Jordi Baylina, Polygon cofounder and tech lead of Polygon zkEVM development, is #1 on the list.
Coinbase's Victor Bunin, ETHCC host Jerome De Tychey, Least Authority's Liz Steininger, Sigma Prime's Mehdi Zerouali, Daily Gwei's Anthony Sassano and Ethereum Foundation's Justin Drake will hold seats on the Polygon Council.
Also, legendary pseudonymous on-chain detective ZachXBT and Polygon Labs CISO Mudit Gupta will take part on the operations of the council.
For the first time, Polygon Labs announced its plans to create a protocol council in June 2023 after the announcement of Polygon 2.0's ambitions, as reported by U.Today.
Migration toward Polygon 2.0 gains steam
Besides individuals, the council is joined by leading Web3 teams like L2Beat tracker of Ethereum's L2s and Gauntlet DeFi protocol.
The members of the council will be able to authorize both regular upgrades (with 7/13 quorum) and emergency upgrades (with 10/13 quorum) providing necessary transparency reports.
Meanwhile, the smart contracts of POL, a key element of Polygon 2.0's tokenomics and the asset that will potentially replace MATIC, were deployed to Goerli testnet on Oct. 4, 2023.
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