Polygon Proposes PIP-93, Plans to Establish Unified Security Council with 8/11 Multisig and 7-Day Timelock

Odaily reports that the Polygon community has proposed draft proposal PIP-93, which aims to consolidate the Protocol Council, Polygon PoS, and AggLayer multisigs into a unified Polygon Security Council. The council will consist of 11 signers delegated by 10 institutions, adopting an 8/11 multisig strategy covering Ethereum and Polygon; Polygon Labs holds 2 seats, with the remaining institutions each holding 1 seat. Participating institutions include Sherlock, Hexens, Sigma Prime, Curve, QuickSwap, EthCC, L2Beat, and Coinbase, among others. Routine upgrades and parameter changes can be proposed by the Polygon Labs Operations multisig through a 7-day timelock, during which the Security Council may veto, or it can bypass the timelock to execute immediately or lift contract pauses. The proposal intends to replace the governance structure established by PIP-29, disclosing only the list of institutions holding seats rather than individual signer identities; it is currently in Draft status.