With Phase 3 of our mainnet and staking rollout firmly underway, Matic Network is quickly approaching decentralization. Upon completion of Phase 3, Matic Foundation nodes will be switched off and the network will be running completely independently of the Matic Network team, powered exclusively by our decentralized ecosystem of external validators.
That said, full decentralization is just the beginning for Matic Network. We are committed to building the strongest possible network to best facilitate our mission to scale the global blockchain ecosystem. This will require continual monitoring, upgrades, and improvements.
Therefore, we’re assembling an elite cohort of select Matic Network validators, known as the Matic Network Validator Advisory Board, which will play a critical role in overseeing and facilitating the advancement of a healthy and secure network.
What is the Matic Network Validator Advisory Board?
The Matic Network Validator Advisory Board has been established to ensure the security and continual advancement of Matic’s mainnet through validator engagement, Monthly call where we would discuss the upcoming upgrades and updates on the network and Matic Improvement Proposals (if any), and close collaboration between a cohort of top network validators and the Network and Protocol divisions of the Matic Network team.
The Advisory Board will be responsible for ensuring all upgrades and updates on the network are discussed and only then rolled out to the network. They will also be responsible for providing regular feedback to the Matic Network team.
Introducing the Founding Advisory Board Members
The assembly will consist of professional and high-quality validators with significant industry experience. A maximum of 15 members will comprise the Advisory Board at any one time. However, to begin with, the initiative will be established with the following 9 validators:
- FreshMATIC: Matic validator operated by Mitera BV, a private investment fund established in 2014 which operates StaaS on over a dozen chains.
- Stake Capital: One of the industry’s most trusted DeFi and staking service providers, providing validation services for leading PoS blockchains.
- Node A-Team: Top-tier validator based in South Korea with an impressive record of winning awards for their validation services.
- Chainflow: One of the most respected validators in the industry. Chainflow’s a smaller, independent and self-funded operator that offers staking services for a range of PoS networks including Cosmos, Livepeer and Solana.
- AUDIT.one: Validator arm of Persistence One. AUDIT.one utilizes highly secure Tier 3 and Tier 4 data centers across multiple geographical locations clubbed with a multi-cloud architecture to secure multiple PoS networks.
- Staked.us: Provider of highly reliable & secure staking infrastructure for 20+ PoS protocols on behalf of the leading investors in the industry.
- Newroad Network: Industry leading company in digital asset staking, which also provides independent advice & services.
- Vitwit: Specializing in providing state of the art technology solutions in AI, blockchain and cloud computing.
- Tessellated Geometry: Building and growing the proof of stake blockchain ecosystem by offering top-tier validation and consulting services for leading PoS networks.
- Pete Kim: Head Of Engineering, Wallet at Coinbase and advisor to Matic Network.
All new Advisory Board members are being selected by the Matic team for the time being. Moving forward, any additions will be decided via a voting process carried out by the members of the Advisory Board and the Matic Network team.
Close Collaboration with the Matic Network Team
The Advisory Board will work closely with the Network and Protocol divisions of the Matic Network team. The Board will be apprised of the latest developments happening on Matic Network via monthly calls between the Advisory Board and Matic team to discuss topics such as Matic Improvement Proposals (MIPs), governance decisions, and feedback/suggestions to improve the network activity, stability and security.
Based on the discussions on the monthly call, decisions will be made on the call through voting.
The Advisory Board will play a key role in the governance of the Matic Network mainnet. Through discussions within the Advisory Board and with the Matic team, decisions will be made regarding:
- Suggestions and recommendations as Matic Improvement Proposals (MIPs)
- Discussions and voting on several MIPs
- Ecosystem upgrades
- Discussions and voting on grants for tools for the ecosystem
The Advisory Board will then conduct the flow of events to ensure that any on-chain activities led through governance will pass through the board and will be communicated through them to the network.
Upgrade Discussions and Implementation
Network upgrades and updates to be discussed and implemented by the Advisory Board will be categorized into 3 different classifications.
- Code Red: High priority upgrades requiring immediate implementation.
- Code Green: Medium priority upgrades requiring action within a specified timeframe.
- Code Yellow: Low priority optional upgrades.
Advisory Board members and the Matic Network team will remain in close contact via various communication channels to ensure quick action is taken when necessary.
Advisory Board members will also be available to the community for discussions and updates regarding network upgrades and progress. Community feedback will be an important factor in the decision making processes of the Advisory Board.
Therefore, the Advisory Board will essentially be responsible for securing, monitoring, and facilitating the advancement of the network with the best interest of the network and members of the Matic ecosystem in mind.
Closing Thoughts: Building a Strong Decentralized Ecosystem
Although the Matic team will always retain a key role in ensuring the security and advancement of the network, as a decentralized network it’s important that key stakeholders also prominently participate in network maintenance and governance. This is a major aspect of decentralization.
The establishment of the Validator Advisory Board also ensures that we can address any potential issues quickly, in order to preserve the security and integrity of the Matic mainnet even if an unprecedented situation arises.
Together with our proven and capable cohort of mainnet validators, we will accelerate the advancement of Matic Network as we push onward on our mission to scale the global blockchain ecosystem.