TL;DR

EigenLayer forms the Protocol Council to oversee governance, ensuring protocol security and evaluating EigenLayer Improvement Proposals (ELIPs).
The council comprises five members, including two from the Eigen Foundation and three independent community members, operating with a 3-of-5 threshold configuration.
Community engagement is encouraged through the Eigen Council Telegram group, where active voters receive EIGEN tokens as rewards.

EigenLayer has announced the formation of the Protocol Council, a multi-stakeholder group dedicated to overseeing the protocol’s governance. This initiative aims to ensure protocol security and evaluate EigenLayer Improvement Proposals (ELIPs).

The announcement was made by the Eigen Foundation, highlighting the council’s role in maintaining the integrity and growth of the EigenLayer ecosystem.

1/ The Protocol Council is live!

On January 13th, at 05:54:11 PM UTC, the Eigen Foundation executed the final time-locked transaction required to officially transfer control to the Protocol Council.

— Eigen Foundation (@eigenfoundation) January 13, 2025

Objectives and Responsibilities

The primary goal of the Protocol Council is to review and approve ELIPs, ensuring that all proposed improvements align with the protocol’s long-term objectives.

The council will also be responsible for fostering broader ecosystem development and empowering community-driven contributions. By maintaining a rigorous evaluation process, the council aims to support the protocol’s security and sustainability.

Structure and Membership

The Protocol Council will operate a Gnosis Safe with a 3-of-5 threshold configuration, initially comprising five members from across the EigenLayer ecosystem. This includes two representatives from the Eigen Foundation and three independent members sourced from the broader community.

The initial cohort of external members includes Sigma Prime, represented by Mehdi Zerouali; Unit410, represented by Mike Reinhart; and Gonçalo Sá from Creed and Consensys Diligence.

Community Engagement and Incentives

In addition to the formation of the council, EigenLayer has launched the Eigen Council Telegram group, providing the community with an opportunity to actively participate in governance.

Community members can vote on proposals, submit ideas, and engage in discussions. Active voters will receive EIGEN tokens as rewards, making the governance process more engaging and inclusive.

Future Prospects

EigenLayer’s introduction of the Protocol Council marks a significant step towards decentralized governance. By bringing together trusted domain experts and community members, the council aims to guide the protocol’s evolution responsibly.

As the council progressively decentralizes, it will play a crucial role in shaping the future of EigenLayer and its ecosystem. The launch of the Protocol Council underscores EigenLayer’s commitment to decentralized governance and community-driven growth.

With a strong focus on protocol security and ecosystem development, the council is poised to make a lasting impact on the EigenLayer protocol. As the council begins its work, the broader crypto community will be watching closely to see how it navigates the challenges and opportunities ahead.

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Filed under: News - @ January 14, 2025 12:26 pm