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Pioneering Ethereum Layer 2 scaling protocol Polygon has taken a crucial step into increasing community ownership and governance with the introduction of the Polygon Governance Hub. Polygon to Enhance Community Governance  Aragon Project, the popular developer of Decentralized Autonomous Organizations (DAOs) built the governance hub for the Polygon Community. In a statement, it was noted that Aragon Project created an end-to-end governance solution that comprises protocol governance contracts and a community-driven hub. introducing the Polygon Governance Hub — a unified & transparent interface for community governance, developed with @AragonProject. built hand-in-hand with the community, the hub marks the next chapter of Polygon governance and community ownership. more on what this means 🧵 pic.twitter.com/CrAg6QwKwG — Polygon | Aggregated (@0xPolygon) June 14, 2024 According to the X post from 0xPolygon, the hub is a unified and transparent interface for community governance. It is designed to “empower users and builders to influence core development of Polygon tech.” The primary goal of the Polygon Governance hub is to engage the community and infuse their values. At every point, community feedback will be incorporated into the ecosystem to encourage decentralization. Polygon has three governance pillars; protocol governance, smart contract governance and community treasury governance. Of this three, the governance hub features a unified interface for the first two listed. Precisely, the hub increases transparency and participation on the protocol governance while it brings an upgraded governance framework for smart contract governance. This framework for the latter, offers structured, transparent, and safety-focused process for decision-making. Fighting for Layer 2 Dominance The launch of the Polygon Governance Hub is also another attempt for the L2 to exert its dominance. In an ecosystem where there is a growing competition from Base, Optimism and Arbitrum, Polygon needed a standout mechanism. As one of the most important factors to resolve…

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Filed under: News - @ June 15, 2024 2:26 am