Decentralised DAO governance gets a boost with Polygon Protocol upgrade
Our world is changing, and decentralised autonomous organisations and the blockchain are enabling new kinds of corporate governance leading to the new trend of Governance 2.0.
Key takeaways
- Acting through a Safe smart contract, the council will be responsible for regular and emergency upgrades, with the initial scope of responsibility covering the POL Migration Contract and Emission Manager Contract.
- The concept of Polygon 2.0 was unveiled in June and envisions the launch of a brand new token called POL, which will replace MATIC.
- In the future, the community will play a significant role in shaping the composition and guidelines of the Council.
Cite or link to this article
Griffin, M. (2023) 'Decentralised DAO governance gets a boost with Polygon Protocol upgrade', 311 Institute, 5 November. Available at: https://www.311institute.com/decentralised-dao-governance-gets-a-boost-with-polygon-protocol-upgrade/ (Accessed: 1 October 2026).
Governance isn’t something you might think too much about when it comes to the future, but from a business perspective it’s crucial to ensure the safe and efficient running of an organisation. Now, in the Web 3.0 era where technologies such as Blockchain are helping create Decentralised Autonomous Organisations (DAO) and decentralise and automate governance – to create what’s known as Governance 2.0 - a new Polygon Improvement Proposal (PIP-29) has been introduced that would establish a 13-person governance body to execute upgrades to system smart contracts for existing and future Polygon protocols.
The proposed members of the inaugural Protocol Council include Polygon co-founder Jordi Baylina, Viktor Bunin, protocol specialist at Coinbase, the Ethereum Foundation researcher Justin Drake, ️and Cometh CEO Jerome de Tychey, among others.
Polygon is an interoperability and scalability solution for building Ethereum-compatible blockchains, with the MATIC token playing a key role in governance, staking, and covering gas fees.
Acting through a Safe smart contract, the council will be responsible for regular and emergency upgrades, with the initial scope of responsibility covering the POL Migration Contract and Emission Manager Contract. The concept of Polygon 2.0 was unveiled in June and envisions the launch of a brand new token called POL, which will replace MATIC.
Modifications to these contracts can be made either through a standard change route requiring a 7/13 consensus of the Protocol Council with a 10-day timelock or through an emergency change route that demands a 10/13 consensus and does not involve a timelock.
The move is aimed at creating a framework for decentralised ownership and decision-making for the Polygon ecosystem and serves as an initial step toward the ultimate vision of Polygon 2.0 governance: an on-chain, trust-minimized, and community-driven framework for effective and decentralised decision-making.
Subsequent proposals will further formalize this framework in the future.
In the future, the community will play a significant role in shaping the composition and guidelines of the Council. This will be achieved through direct feedback, proposals under the PIP framework, as well as through off-chain and on-chain voting mechanisms.
FAQ
Why does this matter?
Our world is changing, and decentralised autonomous organisations and the blockchain are enabling new kinds of corporate governance leading to the new trend of Governance 2.0.
About the author
Matthew Griffin Founder, 311 Institute
Matthew Griffin is a multi-award winning Futurist and expert in Disruption and Innovation, Geopolitics, Leadership, and Technology, who NASA have described as a "walking encyclopaedia of the future" and a "futurist Polymath."
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Matthew Griffin is a multi-award winning Futurist and expert in Disruption and Innovation, Geopolitics, Leadership, and Technology, who NASA have described as a "walking encyclopaedia of the future" and a "futurist Polymath." 15-time best selling author of the "Codex of the Future" series, Matthew is the Founder and Futurist in Chief of the 311 Institute, a global Futures and Deep Futures advisory firm working with royal households, world leaders, G7, G20, and G77 governments, NGOs, and multi-national mid and mega cap firms to help them explore, shape, and lead the next 50 years of business and society.
An award-winning YouTube creator with over a million followers, with an unrivalled global reach and impact, Matthew is a highly sought-after international keynote speaker, lecturer, and mentor who collaborates with global leaders through the United Nations Alliance of Civilizations (UNAOC) and United Nations General Assembly (UNGA) to shape pivotal initiatives such as the UN’s AI for Humanity program, the United Nations Conference of the Parties (UN COP), and the World Economic Forum in Davos.
As the former Global Head of Cloud, National Security, and Enterprise Sales for companies including Atos, Dell-EMC, and IBM, Matthew has a proven track record of building multi-billion dollar business units and turning failing divisions into market leaders. His ability to identify, analyse, and communicate the implications of hundreds of emerging technologies and trends is unparalleled, and his insights are trusted by many of the world’s most respected organisations, including ABB, Accenture, Adidas, AON, ARM, BCG, Centrica, Citi, Coca-Cola, Dentons, Deloitte, Dow Jones, EY, Google, KPMG, Lego, Legal & General, LinkedIn, Microsoft, PepsiCo, Qualcomm, RWE, Samsung, Siemens AG and Siemens Energy, T-Mobile, UBS, VISA, Walmart, Workday, Worldpay and many others.
Regularly featured in the global media including the AP, BBC, Bloomberg, CNBC, Discovery, Forbes, Khaleej Times, Telegraph, TIME, ViacomCBS, WIRED, and the WSJ, Matthews mission is to help organisations create a fair and sustainable future whose benefits are shared by everyone irrespective of their ability, background, or circumstances.
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Sources and further reading
- introduced forum.polygon.technology
Source: first published by the 311 Institute on 5 November 2023. Cite as: Griffin, M. (2023). Decentralised DAO governance gets a boost with Polygon Protocol upgrade. 311 Institute. https://www.311institute.com/decentralised-dao-governance-gets-a-boost-with-polygon-protocol-upgrade/
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