The co-founder of the Ethereum scaling solution ZKsync has proposed significant reforms to its governance token, emphasizing that "economic utility" should be prioritized.
ZKsync co-founder Alex Gluchowski pointed out in a post published on the ZKsync forum on Tuesday that while the ZKsync (ZK) governance token was effective during the project's early stages when "the architecture and adoption path were still forming," the network has since rapidly evolved.
He stated that the network now has an ecosystem composed of interconnected zero-knowledge chains, and capturing network value through ZKsync's token is crucial for driving further adoption of the ecosystem.
Gluchowski, who is also the co-founder and CEO of Matter Labs, the company behind ZKsync, emphasized that funds must flow back into the "network economy," as this will enable ongoing infrastructure upgrades, enhanced security, public goods funding, and "long-term independence."
"The design goal is to establish a self-reinforcing economic cycle where increased adoption enhances network resources, which in turn strengthens the network for all participants," he wrote.
Gluchowski outlined that the reformed ZK token will derive value from on-chain avenues, such as protocol-native fees generated by "interoperability and other core settlement and messaging functions," as well as from off-chain value through licensing agreements for "enterprise software components."
Regarding licensing agreements, ZKsync's tech stack is free to use as it is open-source. However, Gluchowski believes that there should be protocols in place to return value to the ecosystem when large enterprises utilize "community-built infrastructure" for complex purposes (such as treasury integration).
"It is reasonable for enterprise participants to return value to the ecosystem when such functionalities are funded by the ecosystem," he wrote.
From there, all extracted value will flow into a "governance-controlled system," which will use it for ZK market buybacks, staking rewards, token burns, and ecosystem funding.
ZKsync has been considering changes to its governance token for months. As early as June, Omar Azhar, the head of business development at Matter Labs, published a "ZKnomics roadmap vision" on the project's forum.
"ZKnomics aims to align ZK with the long-term health and sustainability of the protocol. It proposes a system where network usage drives protocol revenue, which is programmatically used for two core functions: incentivizing protocol participants and managing token supply," Azhar wrote.
The proposed timeline for this token transformation is still unclear. Gluchowski also shared this proposal on X to encourage more community feedback and review, adding that "once this direction gains broad support," more details will be provided.
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Original: “ZKsync Founder Proposes Governance Token Reform to Increase ‘Economic Utility’”
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