Demex Daily: Polygon Advances Towards Decentralized Governance with New 13-Member Protocol Council; Circle Unveils Smart Contract Platform to Simplify Web3 Development for Web2 Programmers

What’s Interesting Today:

Polygon has introduced a new governance proposal, PIP-29, to establish a 13-person Protocol Council. The council would be responsible for executing upgrades to system smart contracts for both existing and future Polygon protocols. Initial members include figures from Polygon, Coinbase, the Ethereum Foundation, and Cometh. The council will operate via a Gnosis Safe smart contract and oversee regular and emergency upgrades, initially focusing on the POL Migration Contract and Emission Manager Contract. Changes to these contracts can be made through either a standard process requiring a 7/13 consensus and a 10-day timelock, or an emergency route requiring a 10/13 consensus without a timelock. The move is a step towards decentralized governance for the Polygon ecosystem, aligning with the vision for Polygon 2.0. Future plans include greater community involvement in the council's composition and guidelines.

Circle has launched a new "Smart Contract Platform" aimed at simplifying the development of Web3 apps for traditional Web2 developers. The platform offers pre-vetted code templates to deploy smart contracts and provides both a console and REST APIs for deployment, making the transition easier for developers unfamiliar with blockchain technology. It currently supports deployment to the Polygon network with a "no-code" console, and REST APIs are available for Ethereum and Avalanche. Circle also introduced a "Gas Station" tool that allows developers to pay for their users' gas fees, potentially making user onboarding easier. The platform is designed to accommodate a range of smart contract applications, from NFTs to DeFi projects.