Polygon proposes PIP-93: Consolidating protocol councils into a unified security committee, implementing 8/11 multisig and 7-day timelock.

November 5 - The Polygon community forum has released a draft proposal PIP-93, which plans to integrate the existing Protocol Council, Polygon PoS, and AggLayer multisigs into a unified Polygon Security Council. The Security Council consists of 11 signatories dispatched by 10 institutions, implementing an 8/11 signature policy, covering Ethereum and Polygon. Polygon Labs holds 2 seats, while the other institutions each hold 1 seat. Participating institutions include Sherlock, Hexens, Sigma Prime, Curve, QuickSwap, EthCC, L2Beat, Coinbase, and others.

Routine upgrades and parameter changes can be proposed by the Polygon Labs Operations multisig through a 7-day timelock. The Security Council can veto during the window period, or skip the timelock to execute immediately or lift contract pauses. The proposal will replace the governance structure established by PIP-29 and change to only publicly disclosing the list of institutions holding seats, no longer publishing individual signatory identities. The proposal is currently in Draft status.