![]() OP governs upgrades to the protocol and network parameters, and creates an ongoing system of incentives for projects and users in the Optimism ecosystem. Liam Horne, formerly Head of Engineering at the PBC, is stepping into a new role as the CEO of OP Labs PBC, with continued support from Karl Floersch, Josh Stein, Julien Boedec, Bobby Dresser, and the PBC’s new General Counsel, Trevor Dodge. Joining us are some new faces: Eva Beylin, Executive Director of The Graph Foundation, Abbey Titcomb, Council Member of the Radicle Foundation, and Brian Avello, former General Counsel to the Maker Foundation. The Optimism Foundation will be led by two of the founders of Optimism, Jing (formerly CEO) and Ben Jones (formerly Chief Scientist). The Optimism Foundation is a new organization focused on governance experimentation and ecosystem growth. For more information on these structures, you can check out the Working Constitution of the Optimism Collective. As it matures, the Foundation will iteratively transition its governance roles to the Optimistic Ecosystem. The Optimism Foundation is a key first step in devolving power away from Optimism PBC, and towards the broader Optimistic ecosystem. The organization formerly known as Optimism PBC has been renamed to OP Labs PBC, and will be focused on building and decentralizing the protocol as well as supporting the growth of projects in the ecosystem with product and business development. The newly created Optimism Foundation will serve as a steward of the Collective, running governance experiments on behalf of the Collective and bootstrapping the ecosystem before eventually dissolving. But, we also recognize there are still many lessons yet to learn, and the structure of governance today is far from final. The Collective’s bicameral governance system seeks to avoid governance pitfalls experienced by other models on Ethereum today. You can read more about the model of economics for the collective in the Economics Overview. Together, the two houses of the collective will drive a powerful flywheel, funding public goods that make Optimism blockspace more valuable, leading to more revenue for public goods, and so on. The Citizens’ House will launch later in 2022-stay tuned. ![]() You can read more about the structure in the Governance Overview. Together, these two houses will help direct the revenue generated from the Optimism L2 to efforts that promote public goods and help grow the collective. The Citizen House is the vehicle which enables the distribution of power away from any centralized organization, to a human-centric, non-plutocratic mechanism. Citizenship will be conferred by “ soulbound” non-transferrable NFTs, and the set of citizens will grow over time as the Optimism community grows. The Citizens’ House will facilitate and govern a process to distribute retroactive public goods funding, generated from the revenue collected by the network. Holders will be able to vote on protocol upgrades, project incentives as a part of a Governance Fund, and more. Of people who have engaged in positive-sum, community-oriented behavior. The Token House is established by Airdrop #1, bringing in the first thousands The Optimism Collective will be governed co-equally by two houses, the Citizens’ House and the Token House. This is outlined in depth in the Optimistic Vision. The Collective is a band of communities, companies, and citizens united by a mutually beneficial pact to adhere to the axiom of impact=profit. The Optimism Collective is a large-scale experiment in digital democratic governance, built to drive rapid and sustainable growth of a decentralized ecosystem, and stewarded by the newly formed Optimism Foundation. In pursuit of this mission, we are excited to announce the Optimism Collective. ![]() We have a duty to scale our values along with our networks. Scaling the technology alone is not enough. Sacrificing this mission is sacrificing the purpose of crypto. ![]() Web3 offers the opportunity to rebuild the internet to align with the values of its users. We must not recreate Web2 incentives in our quest for Web3 scalability. This demand is often answered by centralized layer-1 competitors, who abandon Ethereum’s security and values under the guise of cheap fees and a quick buck. As crypto enters its next wave of adoption, the calls for scalability are deafening. ![]()
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