Klaytn announced Amendments In its Tokenomics and Governance System 2

Klaytn announced Amendments In its Tokenomics and Governance System

The Klaytn Foundation has announced that it would be implementing a new governance framework for the Klaytn blockchain ecosystem. This will help to improve the ecosystem’s technological capabilities, as well as its decentralization and sustainability.

In order to make the network more user-friendly and engaging, the foundation will be working closely with the Klaytn Governance Council (GC) to facilitate the transfer of the network towards a permissionless validator structure.

In addition, the Klaytn foundation will provide its members with a communication channel that will enable them to take part in the process of decision-making. This action is in accordance with the Klaytn Governance Roadmap, which was disclosed in 2019.

In addition to this, the foundation will present both a thorough agenda for the General Council voting and a revised tokenomics plan for the General Council voting, which will take place between the 22nd and the 28th of February. The system for managing the uncirculated (reserve) KLAY tokens is addressed in the proposal as a reaction to the comments provided by the community.

In order to make the network more user-friendly and engaging, the foundation will be working closely with the Klaytn Governance Council (GC) to facilitate the transfer of the network towards a permissionless validator structure. In addition, the Klaytn foundation will provide its members with a communication channel that will enable them to take part in the process of decision-making. This action is in accordance with the Klaytn Governance Roadmap, which was disclosed in 2019. In addition to this, the foundation will present both a thorough agenda for the General Council voting and a revised tokenomics plan for the General Council voting, which will take place between the 22nd and the 28th of February. The system for managing the uncirculated (reserve) KLAY tokens is addressed in the proposal as a reaction to the comments provided by the community. When the vote is over, a decision will be made about the final agenda for 2023 as well as the proposal. The process has been broken down into a total of three distinct stages by the foundation, which are referred to as the Development, Stability, and decentralization Phases. The foundation's ongoing efforts to offer openness have reached their conclusion with its most recent statement. In addition to this, it has presented the Klaytn Square governance platform, which enables general council on-chain voting agendas and statuses to be seen in real time. The process of transitioning to a blockchain that does not need permission was started in December 2022, and it is expected to be finished in 2024.

When the vote is over, a decision will be made about the final agenda for 2023 as well as the proposal.

The process has been broken down into a total of three distinct stages by the foundation, which are referred to as the Development, Stability, and decentralization Phases. The foundation’s ongoing efforts to offer openness have reached their conclusion with its most recent statement. In addition to this, it has presented the Klaytn Square governance platform, which enables general council on-chain voting agendas and statuses to be seen in real time.

The process of transitioning to a blockchain that does not need permission was started in December 2022, and it is expected to be finished in 2024.

Compiled by Coinbold