ZKsync Era Mainnet: ZKsync Launches Decentralized Governance Model on Mainnet
ZKsync Era Mainnet– ZKsync, the EVM-compatible ZK Rollup, has officially launched its governance model with active smart contracts on the mainnet. This new system introduces a decentralized governance structure, designed to foster community involvement in decision-making processes.
Governance Structure Overview
The governance model of ZKsync is built around three key bodies:
- Token Assembly: This body allows token holders and their delegates to propose and vote on protocol changes.
- Security Council: Composed of security experts, this council reviews and approves code changes to ensure system integrity.
- Guardians: They hold veto powers to ensure decisions align with ZKsync’s core values and principles.
Background and Timeline
Matter Labs, the team behind ZKsync, launched its Era mainnet in March 2023. By June 2024, they unveiled detailed plans for their governance system and rolled out the ZK token along with an airdrop.
Recent Transaction Data
Despite the advancements in governance, ZKsync has experienced a significant drop in daily transactions. The seven-day moving average of daily transactions on the ZK Rollup has decreased by nearly 85% this year, falling from approximately 1.3 million to around 195,000 transactions.
FAQs
What is ZKsync’s new governance model?
ZKsync has launched a new governance model featuring decentralized smart contracts on the mainnet. This model includes three main bodies: the Token Assembly, the Security Council, and the Guardians, designed to distribute governance power and ensure balanced decision-making.
When did ZKsync’s governance model go live?
The governance model went live with the activation of smart contracts on the ZKsync mainnet. The Era mainnet was rolled out by Matter Labs in March 2023, and detailed governance plans were revealed in June 2024.
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