ZKsync officially launches on-chain governance system
ZKsync officially launched the on-chain governance system. The ZKsync governance system is designed around the principle of separation of powers, checks and balances. By design, no person or entity has the right to change the ZKsync protocol. All changes to the protocol must be approved by three independent bodies that exercise independent judgment and control over their decisions: the token holder community, the security board, and the values-aligned custodian who ensures that the proposals are implemented.
The Token Holders Assembly allows token holders and representatives to submit and vote on protocol upgrades directly on the chain; the Security Council is composed of technical experts who review and approve protocol upgrades and have the power to freeze the protocol in case of an emergency; and the Guardian ensures that governance proposals are in line with the values of the ZK Creed.
The governance system supports three types of proposals: ZKsync Improvement Proposals (ZIPs), Token Program Proposals (TPPs), and Governance Advisory Proposals (GAPs).