– Optimism has launched the Security Council with the goal of gradual decentralization.
On February 9, Optimism completed the first phase of its Security Council rollout by creating a multi-sig account with two signatories tasked with approving protocol updates for the mynet OP The two signatories of the wallet are Optimism Foundation and Optimism first iteration of the Security Council.
On Friday, the Optimism team officially launched its first Security Council, marking an important milestone in the decentralization journey,” Optimism said in a Feb. 12 blog post. Phase 0 … Paves the way for more secure, community-driven protocol updates.”
Going forward, Optimism plans to create a Security Council as the sole organization to implement the OP Mainnet protocol updates adopted by management.
Initially, the Security Council will be the only organization responsible for signing off on protocol updates,” Optimism continues. The Security Council is built on the principles of transparency, security, and community participation.”
Optimism ratified the first incarnation of the Security Council in a vote in December.
Among the Council’s first members are representatives from prominent DeFi protocols and organizations in the Ethereum ecosystem, including the Ethereum Foundation, Base, Synthetix, MakerDAO, and L2Beat.
The move comes as the OP price appears to be gaining momentum to regain its all-time high of just over $4 USD, which was reached between late December and mid-January.
According to CoinGecko data, the OP price was at US$3.78 in recent trading, up 40.5% after pulling back to US$2.69 on Jan. 24, and up 4.5% in 24 hours. The OP minnow is also poised to repeat TVL’s record of $6.5B set four weeks ago; according to L2beat, it is now at $6.3B, holding a 26% advantage in the second-tier sector.
OP/USD. source: CoinGecko.