Developers of Polygon Labs on Wednesday proposed a restructuring of the governance mechanism for the upcoming Polygon 2.0 roadmap, which seeks to create multiple layer-2s on the network.
Developers said the new governance structure would consist of “three main pillars,” each pertaining to a specific function.
First would be the expansion of the Polygon Improvement Proposal (PIP) framework – which allows users to propose and research upgrades for Polygon protocols – to all blockchains and applications that run on the Polygon network. This would allow community members to research and propose upgrades that may eventually become part of protocols.
Second, a “System Smart Contracts Governance” pillar that facilitates upgrades for protocol changes or software that is implemented as a smart contract. Such changes would be overseen by an Ecosystem Council, elected and governed by the community, made up of reputed members.
Third, a “Community Treasury” governance mechanism that supports the Polygon ecosystem’s growth and funds projects. It will be managed by an independent Community Treasury Board, eventually transitioning to community-driven governance.
As such, Polygon Labs has urged the ecosystem’s stakeholders, such as developers and network validators, to discuss the governance plans as these are subject to community approval.

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