Taiko activates community governance, names heavyweight board of directors

Taiko, the first rollup scaling Ethereum, has launched on-chain governance, allowing community members to have direct influence over protocol decisions. This shift emphasizes decentralization in contrast to typical Layer 2 protocols which retain override powers. In a notable development, Taiko appointed a Board of Directors including Harvard's Felix Oberholzer-Gee, former Binance executive Joy Lam, and blockchain expert Wen Yonggang. With this governance model, token holders are empowered to veto proposals during review periods, ensuring community control over technical changes. Joy Lam articulated the initiative's aim to promote true decentralization and transparency, establishing a governance framework that embeds accountability into decision-making. The new governance structure is already in action, with token holders able to delegate voting power or directly engage in votes on protocol changes, fostering a participatory environment that protects user interests.

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