Reported by The Block: ZKsync has officially launched its governance model with smart contracts active on the mainnet.
EVM-compatible rollup ZKsync has officially launched its governance model, which includes smart contracts that are now active on the mainnet.
The newly activated governance system is built on a decentralized model that allows the community to participate in making collective decisions for the protocol’s future. This model is structured around three central bodies: the Token Assembly, Security Council, and Guardians, each aiming for a balanced distribution of governance power, ZKsync detailed in a blog post.
The governance system’s design claims that no single party has overarching control. The Token Assembly allows token holders and their delegates to propose and vote on changes directly. The Security Council comprises security experts who can review and approve code changes. The Guardians have veto powers to ensure all decisions align with the core values of the ZKsync ecosystem.
Matter Labs rolled out its Era mainnet in March 2023. In June 2024, the project revealed detailed plans for its governance system, and the ZK token was rolled out alongside an airdrop.
