Switcheo has put the first TradeHub Improvement Proposal to vote on its recently launched governance portal. The TIP proposes increasing the number of validator nodes on the TradeHub blockchain from 17 to 23.

Switcheo is building toward becoming a fully decentralized trading platform and the launch of its decentralized governance structure marks a “significant milestone.” The new governance model shifts the direction of products from the Switcheo Foundation to SWTH token holders. In the announcement, Switcheo noted its importance:

In the next step of our evolution towards radical decentralization, we are empowering you to collectively drive the growth and expansion of Switcheo TradeHub.

You, our community, hold complete autonomy in the development of Switcheo TradeHub. Be it creating new markets, listing new tokens or updating market parameters, there are endless possibilities to be explored, discussed and improved on, without the constraints of a central governing authority.

Switcheo anticipates the new governance model to become an integral part of TradeHub as it expands its product offerings. For example, users can propose new spot or derivatives markets with any underlying asset on the Switcheo Exchange in a permissionless manner. 

Interested participants can go to Switcheo’s governance portal to read about, propose, or vote on TIPs. Once a new TIP is introduced, voters can participate in discussions in the Switcheo community forum, the Discord discussion channel, and tune into the community calls.

To vote, users need to log into their Switcheo Staking account and will be granted access on the TIP page. If SWTH has been staked to a node validator, the Governance portal acknowledges these holdings and allows vote casting with staked tokens.

Looking forward, the Switcheo Foundation intends to incrementally introduce new topics in its TradeHub governance module.

Updated Block Explorer

Switcheo has also updated its block explorer, TradeScan, and added new features.

Source: Switcheo.org

The full announcement can be found at the link below: