Domo launches new BRC20 governance structure, what impact will it have on the inscription market?

On the third day after the first anniversary of brc20 and ordi, domo announced the new BRC20 governance structure.

The Layer 1 Foundation (L1F), founded by BRC20 founder Domo and friends, is excited to announce organizational changes to the BRC20 governance structure, including the appointment of several leading BRC20 indexers as partners, including Hiro , ALEX, Oyl, Allium, UTXO Management. At the same time, Unisat and BestinSlot will serve as the joint main maintainers of the BRC20 protocol in the future.

In addition to supporting BRC20, L1F is focused on providing public tools, educational resources, and open forums to developers working on various meta-protocols on the Bitcoin network. Their vision is to build a decentralized economic system on the Bitcoin network, and they support this vision through non-profit open source development and educational activities. In this process, L1F is committed to creating a favorable environment for developers, encouraging them to explore innovative blockchain technology applications, and promoting the development of the Bitcoin network. By providing developers with the necessary tools and resources, L1F hopes to promote the continuous development and growth of the Bitcoin network ecosystem and enable more people to review the past governance turmoil of BRC20. Although Unisat has Credited with working with Domo on the development of the first BRC-20 indexer, it disagreed with Domo over whether to integrate BRC-20 with the Ordinals upgrade.

On January 2, 2023, Domo, the founder of BRC20, forwarded UniSat’s statement pledging to comply with the upcoming upgrade. He said on Twitter: “Given the potentially significant consequences and valuations, I believe it would be unwise to rush out updates to BRC20, ignore peer indexers, and potentially harm the overall interests of the BRC20 user community.” This statement triggered extensive discussions and reactions in the community, and many people began to re-examine the development direction and upgrade plan of BRC20. This repost also triggered in-depth thinking about project governance and decision-making, with many calling for a more open and transparent decision-making process to ensure that it is in the interests of the entire community. This incident further highlights the challenges faced by project teams in the cryptocurrency space. Domo believes that integrating new updates into the BRC20 standard is a complex matter without strong testing, coordination and verification under construction. Infrastructure, these changes may be unsafe. He even bluntly stated that the actions taken by UniSat were not just a one-time technical push, but part of UniSat’s thoughtful and ongoing strategy to master the BRC20 agreement.

After 3 days of discussion, Domo, the founder of BRC20, stated on social media that he had reached a consensus with UniSat. The path forward they agreed on includes adopting ord version 0.14 (that is, agreeing that BRC-20 will follow the Ordinals upgrade), temporarily ignoring the latest Vindications proposed by Casey, and may consider enabling them in the future, solving the corner cases raised in the Vindication PR, and ignoring the proxy/encoding issue. .

It is reported that a charm named "vindicated" was added to Vindication's PR, aiming to prove that only small changes to ord can be supported by BRC- who want to update to a new version of ord later. 20 indexer by allowing it to temporarily ignore inscriptions with the "vindicated" charm until updated to a new version.

BRC20 governance upgrade is inevitable

Obviously, the last disagreement had a profound impact on the governance structure of BRC20.

The new governance rules formulated by Layer 1 Foundation (L1F) may be precisely to deal with similar governance disturbances to ensure that the future development of BRC20 proceeds smoothly under a more transparent and stable governance framework. The Layer 1 Foundation (L1F) stated that over the past few months, designing a transparent governance structure for BRC20 and ensuring that users are protected first will be critical to the future development and reliability of the protocol, especially considering that index-based protocols (not yet The task of designing a governance structure connected to a blockchain consensus mechanism is extremely complex and presents many challenges and pitfalls.

For an index-based protocol like BRC20, designing a governance structure that is both fair and flexible is a difficult task. Therefore, in order to ensure the future development and reliability of the protocol, it is crucial for Domo to formulate governance rules, and the BRC20 governance upgrade is inevitable.

By appointing leading BRC20 indexers such as Unisat and Best In Slot as partners, L1F can bring together additional expertise and resources to drive the development and maintenance of the protocol. This will help increase transparency in governance, reduce the risk of centralization, and ensure the long-term health of the protocol. In addition, this may also be to increase Domo’s voice in BRC20 governance. By formulating specifications and appointing main maintainers, Domo and L1F may play a more direct influence in the future direction and decision-making of the protocol, affecting the stability and long-term development of the BRC20 community.

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