Overview

The EigenLayer protocol and EIGEN token exist as a set of mostly upgradeable smart contracts on Ethereum. The goal of the Eigen Foundation is to ultimately transition control over upgrades to these contracts to community contributors via EigenGov, EigenLayer’s governance system.

Currently, the ability and responsibility to make decisions regarding contract upgrades, changing parameters, and pausing functionality are entrusted to three main governance multisigs and the Protocol Council (See Technical Architecture).

The Protocol Council is the decision-making body responsible for overseeing core protocol upgrades in the interest of the greater EigenLayer ecosystem. The goal of the Protocol Council is to maintain protocol security by reviewing and approving EigenLayer Improvement Proposals (ELIPs) and ensuring all proposed improvements advance the protocol and responsibly support the growth of the EigenLayer ecosystem. The Protocol Council is composed of a diverse set of council members from the EIGEN ecosystem. The council adheres to EigenLayer’s current protocol governance process, as defined here.

The official Protocol Council charter can be found here.