Polygon Initiates Decentralized Governance with Polygon 2.0 Expansion

    Polygon Labs has embarked on a significant endeavor to expand its platform’s governance capabilities, aiming to include all blockchains and applications currently operating on the Polygon network. This ambitious expansion is designed to democratize the upgrade process and foster community participation, empowering users to play a more active role in shaping the network’s future.

    On July 19, Polygon developers unveiled a proposal to revamp the governance mechanism as part of the forthcoming Polygon 2.0 roadmap. The proposal centers on establishing multiple layer 2 solutions on the network to enhance its scalability and performance.

    To achieve this, developers introduced a comprehensive governance structure built upon “three main pillars,” each catering to specific functions within the Polygon ecosystem.

    The first pillar focuses on enhancing the existing Polygon Improvement Proposal (PIP) framework, which facilitates the proposal and exploration of upgrades for Polygon protocols. This expansion is set to encompass all blockchains and applications running on the Polygon network, allowing for a more inclusive and community-driven upgrade process.

    By empowering community members to conduct research and suggest upgrades, Polygon opens itself to a diverse array of insights and potential enhancements. This inclusive approach aims to harness the collective intelligence of the community, leading to more robust and well-informed decisions regarding the network’s development.

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