Polygon is looking to take a significant stride forward. The platform has recently shared plans for a major governance restructure in its newly announced Polygon 2.0 roadmap. What is Polygon 2.0 and what plans does it bring?
The primary goal of the restructuring is to make Polygon a more decentralized platform. The team behind Polygon is envisioning a future where the network’s users have more influence over the decision-making process. By devolving authority and empowering the community, Polygon aims to foster a more inclusive and democratic ecosystem.
The Strategy: Three-pronged Approach to Decentralization
The roadmap towards a decentralized future consists of three key phases:
Each step marks a shift away from a centralized approach, allowing the Polygon community to play an increasingly pivotal role in governing the network.
Edge & Node Partnership: A Step Towards Decentralization
In the first step of its decentralization strategy, Polygon has teamed up with Edge & Node. This partnership will see the Edge & Node team work closely with Polygon to develop the decentralized technology stack.
Towards a Community-Governed DAO
The next step is the establishment of a community-governed DAO. Polygon believes this is a necessary evolution for the platform, one that will make it more resilient and democratic, ultimately helping the network to scale.
The Final Frontier: Full Protocol Decentralization
The final phase in Polygon’s decentralization journey is full protocol decentralization. This would make Polygon one of the first fully decentralized Layer 2 networks, a position that could grant the project a considerable edge in an increasingly crowded market.