According to Foresight News, modular L2 protocol Manta Network has announced its governance model, which will be rolled out in two phases. The first phase will officially launch when the token goes live, establishing a forum for stakeholders to propose Manta Improvement Proposals (MAIP). The second phase, currently under development, will introduce a 'Five Powers Council' structure, including a legislative council, executive council, adjudication council, review council, and management committee.