The Eigen Foundation, the development team behind EigenLayer, has announced the formation of a Protocol Council. This newly established multi-stakeholder organization is tasked with overseeing the governance of the EigenLayer protocol. The Protocol Council will be managed using a Gnosis Safe wallet with a 3/5 multisignature mechanism.
The initial members of the council include two representatives from the Eigen Foundation and three external members. These external members hail from blockchain security research firm Sigma Prime, crypto service provider Unit410, and teams from Creed and Consensys Diligence. The primary responsibility of the council is to review and approve EigenLayer Improvement Proposals (ELIPs).
This process ensures that all proposed enhancements contribute to the protocol's development and support the growth of the EigenLayer ecosystem..