This week marks a significant milestone for the ZKsync protocol with the introduction of ZKNation and the upcoming details of the ZKS token distribution. ZKNation is a governance community designed to enable participants to actively engage in the development and governance of the ZKsync protocol. Through this community, token holders will have the ability to delegate authority, propose upgrades, negotiate on important issues, and vote using ZKNation’s on-chain governance framework.
ZKNation Represents a Collective Effort
ZKNation represents a collective effort to advance the principles outlined in the ZK Credo, focusing on promoting freedom and innovation. This initiative responds to the growing need for decentralized governance in Blockchain technology, aiming to bring together individuals, organizations, and technologies to foster progress and economic growth. The introduction of ZKS tokens marks a crucial step in this journey, allowing community members to play an active role in the governance of the protocol.
Since its mainnet launch in March 2023, ZKsync has demonstrated its ability to scale Ethereum by offering high throughput, low fees, and support for interoperable ZK Chains. Over 6 million wallet addresses have been created on the ZKsync protocol, and more than 350 million transactions have been validated to date. This success underscores the protocol’s potential to make Ethereum more accessible to a broader audience and shape the future of the internet.
Three Main Bodies in the Governance System
A robust governance framework is essential to ensure the ongoing success and resilience of ZKsync. The ZKS token is designed to empower the community to make meaningful contributions through ZKNation’s on-chain governance system. This governance system consists of three main bodies: the Token Assembly, the Security Council, and the Guardians. These entities will work together within different legal structures to interact with ZKsync’s smart contracts and coordination channels.
The Token Assembly includes token holders who can delegate their voting rights to representatives or vote directly. This body will be responsible for proposing, negotiating, and approving initiatives that govern the protocol, fostering a collaborative decision-making environment. The Guardians, a group of at least five individuals, will act as protectors of the values of the ZK Credo, wielding veto power and initiating emergency actions when necessary. Meanwhile, the Security Council, composed of skilled engineers, auditors, and cybersecurity experts, will oversee the technical security of the protocol and have the authority to freeze the protocol in response to security threats.
Further details about the delegation process and ZKS token allocation, along with additional information about ZKNation’s governance structure, will be announced this week. This initiative invites developers, innovators, and freedom advocates to join and contribute to the community. The collective effort of ZKNation is crucial to maintaining the integrity and promoting the growth of the ZKsync ecosystem.
