Tezos bakers!
Etherlink’s core team will soon publish the next kernel upgrade proposal for Etherlink’ mainnet.
We would like to invite you to discover and participate in this new governance mechanism.
One of the features that distinguishes Etherlink from other EVM L2s is its unique governance process: rather than restricting governance participation behind a multisig, Etherlink’s governance is open to all Tezos L1 bakers.
Tezos bakers can indeed participate in the 3 different governance contracts for Etherlink.
- A regular kernel upgrade contract, which allows submitting and approving the deployment of new kernels, and it is intended to introduce new features.
- A security kernel upgrade contracts, which targets quickly addressing incidents and major issues on the rollup.
- A sequencer committee governance contract, which proposes and validates changing sequencer operators.
NB: Participation does not require any further involvement in Etherlink like operating a rollup node and it does not require locking any funds. It is also independent from Tezos L1 governance.
Important Dates
We are planning to announce and release Etherlink’s next kernel upgrade proposal so that it can be subject to governance in the period starting on Monday, February 24th:
- Proposal period vote: kernel governance period 133, from L1 levels #8,060,930 (not before Feb 24th 04:59 UTC) to #8,081,409 (not before Feb 26th 02:30 UTC).
- Promotion period vote: kernel governance period 134, from L1 levels #8,081,410 to (not before Feb 25th 02:30 UTC) to #8,101,889 (not before Feb 28th 00:01 UTC).
The ETA of these blocks, of course, might be affected following network delays, and drift slightly.
How to vote
Bakers participate in Etherlink kernel governance by interacting via a standard smart contract call to specific entrypoints of the kernel upgrade governance contract.
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In the Proposal period, bakers upvote a kernel upgrade hash. The leading kernel upgrade candidate has to gather the support of at least 1% of the L1 baking power to advance to the next stage. We will communicate the new kernel’s hash shortly before the start of period 133.
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In the Promotion period, bakers vote “yea”, “nay” to upvote/downvote the kernel upgrade candidate, and can also vote “pass” to just provide quorum. In this period a kernel upgrade candidate needs to gather a 75% supermajority of “yea” votes over “yea” and “nay” votes, subject to a minimal participation requirement of 5% of the L1 baking power.
You can find detailed instructions on how to submit your votes in governance section of Etherlink docs
Note that bakers must submit this vote with their baking key. If you are operating with a remote signer, you must have enabled the option to sign manager operations.
Further references:
- Tezos Bakers, You Are In Charge! An Overview of Etherlink’s Decentralized Governance
- Etherlink Docs: How do I participate in governance?
- Etherlink Governance Explorer
Call to Action
Tezos bakers: we need your support to ensure the success of this and future Etherlink upgrades and we look forward to seeing more bakers getting involved.
Stay tuned and don’t hesitate to reach out if you have further questions.
Let’s continue building together a bright future for Etherlink and Tezos X.
