Clayton (CLAY) is an open decentralized business network, a system token used for decentralized applications, entertainment, Internet content, payment transactions, computer games. The following features and advantages of the token can be distinguished: high transaction speed, subsidized transaction costs, flexible scalability.

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1. Background  The Klaytn Mainnet is operated and governed by the Klaytn Governance Council (GC). As a facilitator of the Klaytn ecosystem, the Klaytn Foundation (KF) has been delegated the authority to select and dismiss the GC Members. Since its launch in June 2019, 42 entities have joined the GC and 12 entities have retired in accordance with the decision of KF.  As part of the decentralization of Klaytn, KF proposes the following procedure for GC selection and dismissal to ensure transparenc...

[KGP-7] Procedure for Selection and Dismissal of Klaytn Governance Council Members

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🗳 KGP-7 Vote Result: PASS ✅

23 GC members participated and all voted YES 👍

Upcoming changes: 
1️⃣ 2023 H2 ➡️ Channel launch for KC endorsement
2️⃣ 2024 ➡️  Authority to select and dismiss GC members handed over to KC

KGP-7 proposal: 
https://govforum.klaytn.foundation/t/kgp-7-procedure-for-selection-and-dismissal-of-klaytn-governance-council-members/234

KGP-7 Vote Result: PASS. 23 GC members participated and all voted YES. Upcoming changes:.