The SWARM team have announced that the governance model for the network will be updated and are currently waiting for the community to vote on their proposals. Some of the proposals are introducing a network constitution, more seats at the SWARM Council and formal approval of issuance staking.
Potential SWAM Network Upgrades And What Would They Bring To The Table?
The SWARM Network Constitution
The idea behind this network constitution is to define the governance parameters of the network. One of the main issues that it will address is the definition of who is a member of the SWARM network and what qualifies them to be a member of the community, which will be built upon the Market Access Protocol.
The other main function of the network constitution will be to concretely define the conditions under which members will be participating in the decision-making processes from creating proposals down to the voting itself.
Additional SWARM Council Members
What the SWARM team have proposed is also to increase the positions in the Council up to five. The proposed new members are Zachary K. Perryman, Richard Steward and Sam Stone. These members of the network have shown their dedication towards the project each of them has a unique set of skills. SWARM has stated that once the positions are elected, they will be up for reelection on a quarterly rolling schedule at the pace of once seat per quarter.
Issuance Staking Network Policy
This staking model will allow individuals that are known as issuers to stake based on the value of their security tokens. This proposition has gathered a lot of attention in the last months and it is maybe the most anticipated update for SWARM by the community.
Summary
SWARM seems to me going in the right direction when it comes to community management and being decentralized. The potential updates that we have listed above all seem great and push the project further along the correct patch.