ZKsync On-Chain Governance System: Mechanism for Separation of Powers and Checks and Balances in Protocol Upgrades
Publication Time:2024-09-13 00:07:08
The ZKsync on-chain governance system is designed around the principles of separation of powers and checks and balances, ensuring that any changes to the protocol require approval from three independent institutions. These three major entities consist of the token holder community, a security committee, and value-aligned custodians, each independently evaluating and controlling the decision-making process. The token holder assembly grants token holders and representatives the right to directly submit and vote on protocol upgrade proposals. The security committee, composed of technical experts, is responsible for reviewing and approving protocol upgrades and has the authority to freeze the protocol in emergency situations. In addition, custodians ensure that governance proposals adhere to the core values of ZKsync. This system supports three types of proposals: ZKsync Improvement Proposals (ZIPs), Token Plan Proposals (TPPs), and Governance Advisory Proposals (GAPs), aiming to promote a more transparent, secure, and value-driven path for protocol development.
Blockchain Governance
On-chain Decision Making
Separation of Powers
Protocol Upgrades