Skip to main content

Featured Story

Produced by Daniel Aharonoff & Mogul Media AI

Bitcoin Price at Critical Juncture: What to Expect Next

Bitcoin Price at a Critical Juncture: What Lies Ahead? As Bitcoin approaches a pivotal moment in its price trajectory, investors and analysts are bracing themselves for potential volatility. With recent market movements indicating both bullish and bearish sentiment, understanding the underlying factors driving this uncertainty is crucial for anyone involved in the crypto ecosystem. Current Market Overview Bitcoin's price has fluctuated significantly in recent weeks, drawing attention from both retail and institutional investors. Here's a snapshot of the current situation: Recent Price Action : Bitcoin's price has been hovering around the $27,000 mark, with critical resistance levels looming above. Market Sentiment : Twitter and various forums are awash with discussions about whether Bitcoin will break through current resistance or retreat to lower support levels. Regulatory Developments : Ongoing regulatory discussions, particularly in the U.S., continue to creat...
Post a Comment
Read more
Produced by Daniel Aharonoff & Mogul Media AI

Embracing Decentralized Governance: Introducing Polygon Improvement Proposal (PIP 29)

A new Polygon Improvement Proposal (PIP 29) has been introduced, outlining the establishment of a 13-person governance body responsible for executing upgrades to system smart contracts for existing and future Polygon protocols. This proposal marks a significant step towards decentralized ownership and decision-making within the Polygon ecosystem, aligning with the vision of Polygon 2.0 governance. The inaugural Protocol Council consists of notable individuals such as Polygon co-founder Jordi Baylina, Viktor Bunin (protocol specialist at Coinbase), Ethereum Foundation researcher Justin Drake, and Cometh CEO Jerome de Tychey, among others. Through a Gnosis Safe smart contract, the council will be tasked with regular and emergency upgrades, initially focusing on the POL Migration Contract and Emission Manager Contract. This move aims to create a framework for effective and decentralized decision-making, paving the way for the future of Polygon governance. As the framework evolves, the community will have a significant role in shaping the composition and guidelines of the Council through direct feedback, proposals under the PIP framework, and on-chain and off-chain voting mechanisms.

The Role of the Protocol Council: - The Protocol Council, established under PIP 29, is responsible for executing upgrades to system smart contracts for existing and future Polygon protocols. - The council will act through a Gnosis Safe smart contract to carry out regular and emergency upgrades. - The initial scope of responsibility covers the POL Migration Contract and Emission Manager Contract. - Regular upgrades will follow a standard change route, requiring a 7/13 consensus of the Protocol Council and a 10-day timelock. - Emergency upgrades, on the other hand, demand a 10/13 consensus and do not involve a timelock.

The Concept of Polygon 2.0: - Polygon 2.0, unveiled in June, introduces the launch of a new token called POL, which will replace MATIC. - The establishment of the Protocol Council is a crucial step towards achieving the vision of Polygon 2.0 governance. - The ultimate goal is to create an on-chain, trust-minimized, and community-driven framework for effective and decentralized decision-making.

The Future of Polygon Governance: - Subsequent proposals will further formalize the framework for decentralized ownership and decision-making within the Polygon ecosystem. - The community will play a significant role in shaping the composition and guidelines of the Protocol Council. - Direct feedback, proposals under the PIP framework, and on-chain and off-chain voting mechanisms will enable community participation in the governance process.

Email Post

Comments

Post a Comment

Trending Stories