Aragon Project built a comprehensive governance hub for the Polygon Community, offering protocol governance contracts and a community-driven solution.
The Polygon Community’s governance center was constructed by the well-known Decentralized Autonomous Organization (DAO) developer, Aragon Project.
It was mentioned in a statement that Aragon Project developed a community-driven hub and protocol governance contracts as part of an end-to-end governance solution.
The hub provides a uniform and transparent platform for community governance, according to the X post from 0xPolygon. “Empower users and builders to influence core development of Polygon tech” is the stated purpose of the tool.
The Polygon Governance hub’s main objective is to involve the community and instill its principles. To promote decentralization, community input will always be included into the ecosystem.
Three pillars support Polygon’s governance structure: community treasury, smart contract, and protocol governance. The governance hub has a single interface for the first two of these three.
Specifically, the hub introduces an improved governance structure for smart contract governance while simultaneously increasing involvement and transparency on the protocol governance.
This latter framework provides an organized, transparent, and safety-oriented decision-making process.
Another move by the L2 to assert its supremacy is the launch of the Polygon Governance Hub. Polygon needed a unique mechanism in an ecosystem where Base, Optimism, and Arbitrum are becoming more and more competitive.
It is seen as a significant accomplishment to transfer control to the community through governance, one of the most crucial issues to be resolved in blockchain systems.
Similar to Polygon, the Cardano protocol is designed to provide the community total control over its treasury. As soon as the eagerly anticipated Chang hard fork activates on the mainnet, this massive push will begin.
The recent Miden Alpha Testnet launch by Polygon highlights the company’s ongoing evolution.
In the long run, MATIC may face increased demand in this era of government. This is going to happen when investors strive to influence decisions in order to obtain associated incentives.
The market value of the Polygon network’s native coin has not, however, been significantly impacted by the news of the governance hub. MATIC was down 2.52% and trading at $0.5984 at the time of publication.