Last updated on November 24th, 2021 at 11:07 am
Polygon has announced plans to form a decentralized autonomous organization (DAO) for all of its community members, including projects in decentralized finance (DeFi).
The Ethereum scalability infrastructure developer made the announcement last week, calling on its members to express their views on the platform’s decision to form a DAO.
CoinDesk reports that Polygon plans to create committees to promote discussion between projects including QuickSwap, Sushi Aave, and others to “bring DeFi to the next million users.”
“As the Polygon ecosystem grows, the committee members have a front-seat opportunity over others to increase cross-collaboration for their products,” said the project. “Voting for elections of new members could be implemented in multiple ways like by using staked MATIC on PoS or via the DAO token holders.”
According to Polygon, the DAO could offer a solution to scale projects on the software development kits and could be beneficial to “anyone building tooling, integrations, and projects” on layer-two rollups.
Polygon had earlier said it would be merging Hermez Network into its ecosystem for $250 million as part of its expansion into zero-knowledge proofs.
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