The Celestia network is facing significant changes recently, as its co-founder John Adler has proposed a governance proposal that has sparked widespread discussion. Against the backdrop of the continuous fall in TIA token prices and sluggish network revenue, this proposal aims to fundamentally change the operating model of Celestia.

Adler suggests that Celestia abandon the existing Proof of Stake (PoS) mechanism in favor of a "Proof of Governance" (PoG) model. This shift will have a profound impact on Celestia's overall structure. First, the issuance of TIA tokens will be significantly reduced, expected to decrease by about 95%, which may significantly affect the token's supply dynamics. Second, the existing staking system will be abolished, including delegated staking and liquid staking contracts, while the on-chain governance mechanism will also be terminated.

In the new model, the issuance of TIA tokens will be entirely used to reward validators as an incentive for their operating nodes. However, the selection of validators will no longer rely on token voting but will be determined through an off-chain governance mechanism. Furthermore, Celestia plans to introduce a fee-burning mechanism aimed at providing potential benefits to token holders.

This bold proposal has sparked heated discussions within the crypto community. Supporters believe it could be an innovative way to address the current blockchain governance issues. However, critics are concerned that it might lead to centralization problems and could affect the security and decentralization of the network.

Regardless of the final outcome, Celestia's attempt undoubtedly provides valuable experience for the evolution of blockchain governance models. It challenges the traditional PoS consensus mechanism and may open up new ideas for future blockchain designs. As discussions deepen, the crypto community will closely monitor this potential paradigm shift and its impact on the entire industry.