The Evolution of Decentralization: Manta Network’s Governance Model Introduction
MAIP-1: Manta Network’s Governance Model
Introduction
Manta Network introduces a novel and groundbreaking governance model solution that balances democracy with efficiency through a five-tier system of checks and balances. Manta Network takes a hypergrowth approach to development, which has transformed Manta Pacific into the fastest-growing Ethereum L2. The modular approach to its architectural design allows it to take full advantage of new and emerging technologies to continuously deliver value to users now and in the future as needs continue to evolve. In an effort to preserve this successful development process while also decentralizing, Manta Network’s governance model promises innovation while balancing a fair, democratic methodology for contributing, auditing, and growing together as an ecosystem.
The Manta governance system will be rolled out in two phases. Phase 1 is introduced immediately and will be available at $MANTA TGE to enable democratic decision-making. Phase 2, which is under development, will enable a new structure of checks and balances to focus on innovative and fair democratic decision-making to drive the future growth and success of the network.
Manta Governance 1.0: Laying the Democratic Foundations
The inception of Manta Governance 1.0 marks the beginning of a new era in blockchain governance for both Manta Network as well as web3. Establishing a forum for stakeholders to propose Manta Improvement Proposals (MAIPs), this phase solidified the Manta Foundation’s role in executing governance decisions, setting a precedent for a governance structure that fosters community involvement and ensures operational stability.
Manta Governance 2.0: The Penta Power Structure and the Role of Each Council
With Manta Governance 2.0, the network will transition into a more intricate and balanced system. The introduction of the ‘Five Council’ concept assures a robust governance framework, fostering an environment where interests are aligned with network growth and sustainability.
- Legislative Council: This Council is at the forefront of shaping the network’s future. It is where $MANTA token holders contribute to decisions on the network’s roadmap, vision, tokenomics, and utility. The members of this Council are selected for their deep understanding of blockchain economics and community needs, ensuring that the network’s strategic direction aligns with the broader objectives of growth and innovation.
- Executive Council: Managed by the Manta Foundation, the Executive Council transforms the Legislative Council’s decisions into action. It focuses on network operations, educational initiatives, and research and development. The members of the Executive Council were chosen for their expertise in blockchain technology, educational outreach, and operational management.
- Judicial Council: This Council is responsible for overseeing grants distribution and implementing the governance tools that enable and ensure a fair democratic process, including services such as Snapshot and zkVote. Its members are experts in governance systems and decentralized voting mechanisms, ensuring fairness and transparency in the allocation of network resources.
- Examination Council: Tasked with managing the electoral process for the Manta Foundation members, this council upholds the principles of democratic selection and accountability. Every two years, an election will be conducted among $MANTA holders on the Manta Pacific platform to select foundation members responsible for executing governance decisions. Its members, known for their experience in electoral processes and governance structures, ensure that the election of foundation members is conducted with integrity and transparency.
- Control Council: As the audit branch, it plays a crucial role in overseeing the entire governance process and maintaining network integrity. The Control Council’s members were selected for their backgrounds in audit, compliance, and risk management, providing an essential layer of oversight and quality assurance. The inaugural members of the Control Council are authorized representatives from esteemed entities, including Cointelegraph, Veridise, Celestia, Polygon, and Polychain.
Penta Power Structure
The implementation of the Council structure is a testament to Manta’s innovative spirit and its commitment to efficient, balanced governance. This system is designed for scalability and future network expansion, signaling readiness for sustainable growth. The diverse Council system allows for enhanced risk management, which is crucial in maintaining a stable and reliable blockchain environment.
1. How Does Manta’s Governance Work?
Manta Network’s ‘Penta Power’ governance structure, divided into five distinct ‘Councils’, caters to the evolving needs of the network and its community. Each Council plays a vital role in the network’s administration and strategic direction, with $MANTA token holders central to the decision-making process, ensuring that their interests are always at the forefront.
2. What Sorts of Decisions is Manta’s Governance System Responsible for Making?
The Manta governance system, through its Council approach, covers a wide array of decisions. From determining the network’s strategic direction to managing grants and overseeing operational aspects, each decision made is aligned with creating long-term value and ensuring the network’s robust growth.
3. The Components of Manta’s Progressive Decentralization
Manta’s governance model exemplifies progressive decentralization, emphasizing:
- Stakeholder Empowerment: Centralizing decision-making in $MANTA token holders, ensuring their interests are pivotal.
- Institutional Balance: Maintaining a power balance across Councils, safeguarding against market volatility, and ensuring stable governance.
- Transparency and Accountability: Promoting trust through clear oversight and transparent operations.
- Community Involvement: Encouraging active participation, is crucial for the network’s adaptability and responsiveness to market trends.
- Adaptability and Responsiveness: Ensuring the network remains agile, adapting to market and technological changes.
Recap
As Manta Network continues to evolve, it stands as a beacon of innovation in blockchain governance. We invite the global community to join us on this journey, to be part of a network that not only leads in technological advancements but also redefines the standards of governance in the blockchain world. Manta’s commitment to innovation, transparency, and sustainable growth is not just a promise but a new horizon in the blockchain space.
About Manta Network
Manta Network is the modular blockchain for zero-knowledge (ZK) applications. Manta Pacific is the modular L2 ecosystem for EVM-native ZK applications and dApps that want to deliver the lowest cost and best experience for users. Leveraging Manta’s Universal Circuits to enable ZK-as-a-Service and Celestia’s data availability for modularity to deliver low gas fees, Manta Pacific offers the perfect environment for ZK-enabled applications. Learn more about Manta Pacific here.
Manta Network was created by a team of experienced founders from prestigious institutions, including Harvard, MIT, and Algorand. Manta Network has received investments from many of the top web3 investment funds, including Binance Labs and Polychain Capital. It has grown through participation in the best web3 accelerators, including Alliance DAO and Berkeley Blockchain Xcelerator.
