Hassan Maishera
The Polygon team announced via X (formerly Twitter) on Thursday that PIP-29 is now live, proposing the creation of the Polygon Protocol Council. The team added that this is the next step towards the vision of a decentralized, community-led governance of Polygon protocols, introduced as a part of the wider Polygon 2.0 movement.
The proposed community-governed body of 13 members will be responsible for timelock-limited upgrades to Polygon system smart contracts, i.e. components of Polygon protocols implemented as smart contracts on Ethereum.
Polygon (previously Matic Network) is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is Polygon SDK, a modular, flexible framework that supports building multiple types of applications. MATIC is up by 2.5% in the last 24 hours and is currently trading at $0.5222.
