Optimism, a leading Ethereum layer 2 scaling solution, has unveiled its new governance structure and is preparing to release a token called OP to help power the change:
Governance of Two Houses
Optimism’s newly announced governance structure is to be split into two halves: the Citizens house and the Token house. The Citizens house will be governing the distribution of funding for retroactive public goods, whereas the Token house will focus on driving growth, protocol upgrades, and project incentives.
The new governance token, OP, will be the power behind the Token house. It will create incentives for users to contribute to governance, as much of the project’s decisions will be voter-based. This house will be established through a token airdrop to users.
This airdrop will not just be a one-time event, as users can expect a second drop in Q2. While awaiting an official date for the first airdrop, users can find eligibility information and an allocations link within the initial announcement.
Layer 2 and DAOs
Aside from Optimism, there is a wide range of projects working to continue the expansion of the DeFi ecosystem and resolve network performance issues. Crypto News Australia has compiled an informative list of projects worth watching.
Decentralised autonomous organisations (DAOs) are the blockchain-based version of companies that are native to the internet. There’s a lot to know about DAOs, not to mention a list of risks and benefits, but it doesn’t have to be complicated. Crypto News Australia has also published a handy guide to DAOs.