Optimism’s Season 8 Governance Revamp: A Step Towards Decentralization
Optimism, an Ethereum layer-2 scaling solution, is updating its governance system to enhance decentralization. The changes, effective August 1 as part of ‘Season 8’, introduce stakeholder voting, a public definition of citizenship, and an auto-pass process for proposals. These updates aim to streamline governance and reduce platform risk by ensuring accountability to all major stakeholders.
Key Features of Season 8 Governance Update
- Stakeholder voting for tokenholders, end-users, apps, and chains
- Public definition of citizenship verifiable onchain
- Auto-pass process for proposals unless vetoed
How Optimism’s Governance Model Works
The governance model features two houses: the Token House and the Citizens’ House. The Token House uses token-weighted votes for protocol upgrades and fund allocation. The Citizens’ House allows one vote per citizen, with citizenship categorized into end-users, apps, and chains.
Expert Insight on Decentralization
“Optimism’s approach to governance is a significant step towards true decentralization,” says a blockchain governance expert. “By involving diverse stakeholders, it mitigates the risk of centralized control.”
