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Optimism launches new on-chain governance portal by Agora

optimism-launches-new-on-chain-governance-portal-by-agora
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Optimism launches new on-chain governance portal by Agora

Optimism has announced the launch of a new governance portal called Optimism Agora. The portal, built by Agora, aims to bring Token House votes to full on-chain from the previous governance portal. 

The transition to fully on-chain voting

According to the OPerating manual, the Optimism Collective makes decisions via governance proposals that are either accepted or rejected by the voting process.

Optimism, a layer-2 portal on Ethereum, has a portal from which they are now migrating to a custom on-chain voting solution. Here, all governance proposals are submitted for a vote. 

Previously, the Token House voting was done through a five-week cycle for all proposals. Anyone can submit a proposal to Optimism governance as long as it’s valid and they follow the proper voting process. The OPerating manual describes the voting process and lists the correct proposal types. 

According to the Uniswap-Optimism Delegate Committee, there is a laid out procedure that is followed for any transition. The committee also outlines the roles and expectations of the committee members and the criteria they should follow. 

What is Optimism Agora?

Optimism Agora is a part of Optimism Collective, a band of different entities working together to reward public goods and dispel the myth that they cannot be profitable. It takes a different governance approach and aims to build a sustainable future for ethereum. It is also bound up by a mutually beneficial vision that equates impact to profit.  

The Optimism Agora portal describes itself as a ” home of optimism voters” that hosts Optimism Token House. It serves as the Delegate registry and offer a platform for all Token House votes to occur on-chain. 

https://twitter.com/OptimismGov/status/1624124525230030848

The launch of Optimism Agora is the first step towards transitioning to fully on-chain voting. Additionally, the launch will improve the governance of DAOs and blockchains. 

The Optimism Agora portal has conducted a test vote that will run until Feb. 16 before voting for the Bedrock Protocol Upgrade in March.

The forum post was up until Feb. 8 and set up for a 3-day snapshot voting poll before the votes are finalized.

Optimism Governance has acknowledged Agora for bringing the portal to reality. 

How will the transition affect Optimism?

The main goal of the transition is to improve the governance process in DAOs and blockchain.

The portal will also serve as a Delegate registry containing contracted Delegate contacts and addresses.