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The Optimism Foundation has proposed amending its operating manual to change how members of its Security Council are appointed, CryptoSlate reported. Under the proposal, disclosed on Oct. 22 local time, an elected Security Council lead would nominate candidates, and the nominees would be appointed unless the Token House, a governance body for token holders, secures 20% of votable OP supply to exercise a veto.
If approved, the revision would replace the current group-based election system with the nomination-and-veto process. It would also set a one-week review period for each candidate and a one-week veto voting period, while keeping token holders’ authority to remove the lead. CryptoSlate noted the draft proposal would effectively reduce token holders’ voting rights, although it remains at the draft stage.