KEY TAKEAWAYS
- Casper Network emphasizes decentralization with a new governance model, enhancing transparency and accountability.
- The second On-Chain vote established a Delegation Policy, involving validators in decision-making processes.
- Future plans include more On-Chain Votes to refine governance and align with community values.
The Casper Network has announced a renewed focus on decentralization, emphasizing a community-centered vision that integrates decentralization into its operational framework. This initiative was detailed by Michael Steuer, the Chief Technology Officer of Casper, who highlighted the network’s commitment to transparency, accountability, and fairness.
Steuer explained that the network’s new governance model is a significant step towards achieving these goals. The model, known as On-Chain Governance, empowers validators to actively participate in decision-making processes that affect the entire network. This approach was exemplified by the recent completion of the second On-Chain vote, which Steuer discussed in detail.
Second On-Chain Vote and Its Impact
The Casper Network’s second On-Chain vote, which took place from December 5 to December 8, 2024, focused on establishing a Delegation Policy for the Casper Association. This policy was developed in collaboration with the validator community and addressed key topics such as delegation round duration, validator selection criteria, and mechanisms for redelegation.
Validators participated in the voting process by sending tokens tied to their nodes to designated addresses representing ‘For,’ ‘Against,’ or ‘Abstain’ options. The votes were weighted based on the validators’ network stake, ensuring proportional representation. The results were quorum-adjusted, with only ‘For’ and ‘Against’ votes counted to determine the outcome. The proposal passed with a simple majority, meeting the quorum requirement of 50% network weight.
Future Steps and Community Engagement
With the approval of the Casper Association Delegation Policy, the next phase involves implementing open-source scripts to automate data collection, evaluate validator eligibility, and allocate funds. These scripts aim to ensure consistent and transparent enforcement of the policy.
Looking ahead, the Casper Network plans to conduct more On-Chain Votes to address new proposals and refine its governance model. By encouraging validator participation and engaging delegators in governance discussions, the network aims to evolve in alignment with the values and priorities of its participants.
Steuer expressed gratitude to the validators who participated in the vote, emphasizing their role in making decentralized governance possible. He looks forward to continued collaboration as the Casper Network shapes its future. More details can be found here.
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