Problem Currently, the validator set size in the Terra Classic is 130, and the last validator one the 113th place has 1.86M LUNC delegated to them (at the time of writing), which means that anyone can launch a Terra Classic validator without any serious efforts. This low requirement allows bad actors to create validators and impersonate others. Also after enabling dynamic commission module and serious amount of re-delegations, the more validators in active set, the less stake receives each small validator which means less income for everybody. Proposed solution Decreasing the validator set to 130 from 100 can solve this problem. It will be harder for bad actors to launch a validator on Terra Classic blockchain and additionally small validators will benefit more from dynamic commission re-delegations. Governance votes The following items summarise the voting options and what it means for this proposal: YES - You approve this decrease in the validator set to 130 from 100. NO - You disapprove this decrease in the validator set from 130 from 100. NO WITH VETO - A ‘NoWithVeto’ vote indicates a proposal either (1) is deemed to be spam, i.e., irrelevant to Terra Classic, (2) disproportionately infringes on minority interests, or (3) violates or encourages violation of the rules of engagement as currently set out by Terra Classic governance. If the number of ‘NoWithVeto’ votes is greater than a third of the total votes, the proposal is rejected and the deposits are burned. ABSTAIN - You wish to contribute to the quorum but you formally decline to vote either for or against the proposal.
Submitted
29 Nov 2023, 09:41:27 UTC
Vote closed
06 Dec 2023, 09:41:27 UTC
Manual review needed
StatsBin could not safely infer execution semantics from the available message data.
Current or final voting power, calculated from the on-chain tally.
Quorum
Proposed values compared with the current module state. A difference may mean a later proposal superseded this one.
Staking Max Validators
Objective network measurements at vote close plus 7, 30, and 90 days. Missing history is shown honestly, never backfilled with estimates.
Average block time
Preferred signal: context
7 days
A close-enough baseline and endpoint sample were not both available.
30 days
A close-enough baseline and endpoint sample were not both available.
90 days
A close-enough baseline and endpoint sample were not both available.
/cosmos.gov.v1.MsgExecLegacyContent/cosmos.params.v1beta1.ParameterChangeProposalReached
74.99% participating
Approval
Passing
57.06% decisive Yes
Veto
Below threshold
0.27% of participation
What this message can change—not a prediction of price.
Staking ratio
Preferred signal: context
7 days
A close-enough baseline and endpoint sample were not both available.
30 days
A close-enough baseline and endpoint sample were not both available.
90 days
A close-enough baseline and endpoint sample were not both available.