ZKsync governance is shifting its attention to the economics of the ZK token, as ZK Nation initiates a vote that may introduce a redesigned token contract with new tools for managing supply across the ecosystem.
Key Takeaways:
- ZK Nation launches a governance vote on a ZK token contract upgrade.
- The proposal focuses on programmable supply-management features.
- A hard cap of 21B tokens would be enforced directly in the contract.
- Voting results will determine whether ZKTokenV3 is deployed.
The proposal would replace the current ZKTokenV2 contract with ZKTokenV3 and add functionality intended to make supply adjustments transparent, enforceable and programmable.
The proposal is now in the voting phase, and token holders will decide whether the ZK ecosystem migrates to ZKTokenV3. Although the update does not alter the token’s use cases, it introduces new logic governing how ZK is issued and removed from circulation.
Public Burn Feature Aims to Give Users More Control
One of the main additions is a public burn function that allows any wallet to voluntarily destroy ZK tokens. Supporters argue that this change gives users a way to influence circulating supply rather than relying exclusively on system or protocol-driven burns.
A second feature, named burnFrom, would enable burning from specific accounts by entities assigned a dedicated authorization role, BURNER_ROLE. This mechanism is aimed at programmatic burns triggered by ecosystem components, such as treasury operations or fee-destruction systems.
Hard Supply Cap to Become Technically Enforced
The contract upgrade would also embed the maximum ZK supply — 21 billion tokens — directly into the smart contract. Instead of being a conceptual supply ceiling, the cap would become self-enforcing, meaning no minting can occur beyond the limit.
The changes are intentionally incremental from a technical perspective but reflect a strategic shift toward automated supply management. If the proposal passes, the migration to ZKTokenV3 will require coordination across ecosystem infrastructure. If rejected, the current contract remains unchanged and a new proposal would need to be drafted.
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Source: https://coindoo.com/zksync-governance-starts-vote-on-next-token-contract/