Polygon Draft Proposes Consolidating Security Committee and Adjusting Contract Upgrade Permissions

On November 5 that, according to The Defiant, Polygon governance proposal draft PIP-93 proposes to integrate the existing security committee and multi-sig architecture, and authorize Polygon Labs to submit bridge and staking contract upgrades via an independent multi-sig, with transactions subject to a 7-day delay.

According to the draft, the new security committee comprises 11 signers from 10 institutions with an 8-of-11 signature threshold, enabling it to cancel queued transactions, initiate changes, and execute them immediately. The Polygon Labs-operated multi-sig follows a 5-of-9 signature threshold and cannot bypass the upgrade delay.

The proposal currently remains in the draft stage and will have further details presented at the November 5 protocol governance meeting.