ZKsync Governance System —composed of smart-contracts, interfaces like the delegation portal, and the three governance bodies— has two purposes:
Read more here: ZKsync Governance North Star
Protocol: The ZKsync Governance System governs the ZKsync protocol. Given the ZKsync protocol is the foundation for ZK chains, protocol upgrades also have implications for ZK Chains.
Token Assembly Token Allocation: The ZKsync Governance System also governs the Token Assembly token allocation (29.3% of 21billion ZK). These ZK tokens are meant to be used to support Token Programs that reward initiatives that nurture the ecosystem and align with the Governance North Star.
GovOps: Governance Advisory proposals provide legitimacy to off-chain decisions through onchain voting (e.g. ratify updates to the ZK Credo).
Proposals are governed by the three Governing Bodies - Token Assembly (Delegates & token holders who delegate their voting power), the Guardians and the Security Council. No governance proposal can pass without the approval of the Token Assembly, represented by Delegates. We currently see very few representatives from ZK Chains participating as Delegates.
The main priority for the ecosystem in 2025 and beyond will be realizing the vision of the Elastic Chain. The ZK Chains that make up the Elastic Chain are integral to achieving this vision and should have a voice in governance decisions that impact and benefit their operations. Below are few reasons why governance matters for ZK chains
Protocol Upgrades that Secure & Improve the ZKsync Protocol
A ZKsync Improvement Proposal (ZIP), if passed, executes and upgrade the ZKsync protocol. Upgrades to the ZKsync protocol resulting from the passage of a ZIP could have significant implications for each individual ZK Chain. When a ZKsync protocol upgrade is implemented, each ZK Chain must complete the upgrade by a specified deadline to avoid losing the ability to commit new batches. It would be important for ZK Chains to be actively reviewing these upgrades as they are moving through governance and contributing to the discussion.
Create Reward Programs Bringing the Elastic Network Vision to Reality
Token Program Proposals (TPPs) approve Token Programs that deploy smart contracts that distribute ZK rewards throughout eligible parties in the ecosystem based on their performance on specific KPIs (Token Mechanics). ZK Chains, along with their apps and projects being built on top of them, could potentially be eligible to participate in these Token Programs.
There are a series of proposals in the current proposal pipeline that are specifically targeted at benefiting ZK Chains. Read more here about TPPs and examples of upcoming Token Programs ZK Chains could participate in.