Taiko activates the on-chain governance system and appoints three board members

ChainCatcher news, according to Blockworks, the Rollup-based Ethereum Layer 2 project Taiko has officially activated its binding on-chain governance system and appointed three heavyweight board members. Taiko stated that its governance operates entirely on-chain, and token holders have veto power over any protocol changes.

The newly appointed board members include: Felix Oberholzer-Gee: Professor at Harvard Business School. Joy Lam: Former Global Head of Regulatory Affairs at Binance. Wen Yonggang: IEEE Fellow, Professor at Nanyang Technological University.

Taiko Labs CEO Daniel Wang stated, "We are changing the governance model of L2. Most scaling solutions retain backdoor control through multi-signatures or upgrade keys, while we are truly giving power to the token holders."