Ethereum layer-2 scaling solution zkSync has introduced its new governance system, allowing community members to play a direct role in the protocol’s development.
The zkSync team emphasized that the governance system aligns with the ZK Credo’s core principles, which include “the right to fork or exit” and enabling the community to “trustfully verify decisions trustlessly.” The announcement stated, “The ZKSync governance system is built to last, with autonomously enforced safeguards to address risks and ensure the protocol continues to evolve even in the face of adversarial conditions.”
The zkSync governance structure is based on a model involving three independent bodies: the Token Assembly, the Security Council, and the Guardians. Each body is designed to maintain a balance of power, with no single entity holding absolute control over the protocol’s direction. Alex Gluchowski, co-founder and CEO of Matter Labs, the organization behind zkSync, commented on the launch by saying, “The ZKSync governance system just went live. It’s raising the bar for decentralized governance systems that are built to last.”
The ZKsync governance system is live on mainnet! Builders, users, researchers, devs, network operators, token holders and more–our diverse community now steers the ship.
ZKsync is fully decentralized and controlled by its community.
Read the full post here:…
— ZK Nation (@TheZKNation) September 12, 2024
ZKSync Governance Bodies Define Roles and Ensure Protocol Integrity
The Token Assembly comprises token holders who delegate their voting power to representatives. These representatives can propose and vote on protocol upgrades directly on-chain. The announcement noted, “Delegates can opt to join the ZKSync Association, a non-profit organization designed to mitigate personal legal risks associated with governance participation.”
The Security Council comprises engineers and security experts who evaluate and approve protocol upgrades proposed by the Token Assembly. In cases of significant security threats, the Council can “freeze the protocol and enact emergency upgrades.” However, these emergency actions require the consent of the Guardians and an additional reviewer, currently the newly established ZKSync Foundation.
The Guardians are a supervisory body that ensures all proposals align with the ZK Credo. They can veto proposals that they believe are “misaligned with our core values and protecting the protocol from potential manipulation.” The team described their role as “The Guardians act as a check on the other governance bodies, ensuring alignment with our core values.”
Types of Proposals and ZK Token Distribution
The governance system allows for three proposals: ZKSync Improvement Proposals, Token Program Proposals, and Governance Advisory Proposals. ZKSync Improvement Proposals involve modifications to the protocol contracts and are overseen by the Protocol Upgrade Governor. Token Program Proposals introduce mechanisms for minting and burning ZK tokens by ecosystem participants. Governance Advisory Proposals pertain to off-chain decisions requiring approval from the Token Assembly.
Matter Labs launched the zkSync Era mainnet in March 2023, using zero-knowledge (ZK) rollups and proofs to enhance Ethereum’s transaction efficiency. In June 2024, zkSync introduced its governance system and began distributing the ZK token through an airdrop. Over 695,000 wallets were eligible for the airdrop, with 3.675 billion ZK tokens to be distributed from June 17, 2024, to January 3, 2025.
Despite these advancements, the network has experienced a decline in daily transactions. The seven-day moving average of daily transactions on the ZK Rollup has decreased by nearly 85% this year, from about 1.3 million to approximately 195,000. The zkSync team encouraged ongoing community participation, stating, “Our governance system is not just about contracts; it’s a journey of intentional innovation for real-world impact.”
