Ethereum (ETH) Layer-2 scaling solution Optimism is set to welcome its second governance system update of the year, with the core goal of achieving a higher degree of decentralization.
The Optimism team pointed out in a blog post released on Friday that as part of the "Season 8" reforms, changes effective August 1 will introduce a stakeholder voting mechanism, publicly defined citizenship standards, and an automatic proposal approval process.
The team stated, "Our goal has always been to create a governance model designed for the new internet era; we now understand that this means reducing platform risk by establishing accountability where corporate governance models fail."
The previous governance quarter lasted from January 16 to June 11, focusing primarily on interoperability.
The Optimism team noted that they have established four stakeholder groups: token holders, end users, applications, and blockchains, ensuring that all relevant parties can voice their opinions on governance proposals.
"Season 8 takes measures to ensure governance is accountable to all major stakeholders in the collective, rather than just financial stakeholders, which is a key weakness of traditional corporate and cryptocurrency governance models," the team explained.
"Our goal is to reduce the platform risk of any single stakeholder dominating decision-making at the expense of others."
Two major bodies jointly govern Optimism: the Token House and the Citizens' House. The Citizens' House, introduced in April 2022, operates on the principle of "one citizen, one vote."
The Token House can vote on important matters such as protocol upgrades, sequencer selection, and governance fund allocation through a token-weighted voting mechanism.
In the new system, token holders will continue to participate in governance as core stakeholders through the Token House's weighted voting model.
Optimism has now publicly defined verifiable citizenship standards on the blockchain, categorizing them into three types: end users, applications, and blockchains.
However, the team also admitted that citizenship "is still in the experimental stage," and current citizenship does not guarantee validity in future updates.
Starting in August, the new approval process will see most proposals adopt an "optimistic approval mechanism," meaning they will be automatically approved unless explicitly rejected by a stakeholder.
The Optimism team explained that this design aims to ensure that even busy contributors can maintain the system's normal operation without needing to participate full-time in politics.
"Participating in governance should not require spending hours reading forum posts and navigating complex bureaucratic systems. Becoming a governance participant should not be a full-time or part-time job," they emphasized.
Resource budgets will be proposed by the Budget Committee and will automatically take effect unless rejected. Protocol upgrades will be voted on by the Independent Developer Advisory Committee, which will exercise authority on behalf of both the Token House and the Citizens' House.
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Original article: “Optimism Aims for Decentralization through 'Season 8' Governance Reform”
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