Ethereum layer-2 scaling solution Optimism is set to update its governance system for the second time this year with the intent of becoming more decentralized.
Goals of the Governance Update
In a blog post, the Optimism team announced that changes will take effect on August 1 as part of "Season 8." The update includes the introduction of stakeholder voting, a public definition of citizenship, and an auto-pass process for proposals.
"The goal has always been to create a governance model designed for a new internet; now we understand that means lowering platform risk by creating accountability where corporate governance models have failed to do so," the team stated.
Experimenting with Citizenship
Optimism is governed by two houses: the Token House and the Citizens’ House. The Citizens’ House, introduced in April 2022, allows one vote per citizen. The Token House votes on issues such as protocol upgrades and governance fund allocation through a token-weighted voting model.
However, the team noted that citizenship "remains an experiment" at this point, and current citizenship does not guarantee it in future updates.
New Proposal Approval Process
A new approval process will also take effect in August, allowing most proposals to follow "an optimistic approval process," permitting them to auto-pass unless a stakeholder vetoes.
"Participating in governance should not require spending hours reading forum posts and navigating complex bureaucracy. Being a governance participant should not be a full-time, or part-time, job," the Optimism team remarked.
The governance update of Optimism aims to create a more decentralized and accountable model where all stakeholders can participate in decision-making, minimizing risks and bureaucracy.
