Klaytn launches on-chain governance platform Klaytn Square

ChainCatcher news, the South Korean public chain project Klaytn announced the launch of its on-chain governance platform Klaytn Square. By introducing on-chain governance through Klaytn Square, the Klaytn community will be able to see all discussions and decisions made by the Klaytn Governance Council. The governance activities of each council member, including their participation in voting and decision-making, will be recorded on the Klaytn mainnet, along with the results of every decision made by the entire council.

Under the new governance system, the voting power of each GC member will be proportional to the KLAY stake on their node. For every 5 million KLAY staked, a GC member will receive one voting right, but the limitation is that no single GC member can hold more than 50% of the voting power, regardless of their stake. (Source link)