With the introduction of DynComm we lost the 5% minimum fee/commission which was brought in by previous governance(Prop 11322). This commission is essential for a lot of the smaller validators and developers to operate and build. With the bull run upon us/soon to be upon us, there is a need to reimplement this minimum fee to help maintain the active set and continue building without requesting Spend Proposals from the CP. We have lost a number of validators in the last 5 months with a few struggling to pay for their nodes. This situation will undoubtedly get worse as delegators pull their stake during the bull run to sell for profit. Validators that have closed recently or noted issues: -LUX Blockchain Closed -PFC Closed -T.MOM TT.MOM TTT.MOM Closed -TrueBlueAussie almost closed and had to find ways to reduce costs -MoonRunners almost closed and had to find ways to reduce costs -Cosmeek almost closed and had to find ways to reduce costs The second issue from losing validators in the active set is the loss of long-term delegations and rewards in the jailed section of the validator set, there is roughly 22Billion staked volume with jailed validators, some closed without warning their delegators of their decision to close or not upgrade to remain in the active set. Having this minimum 5% readded added also removes the need to run 2 nodes ‘to provide your delegates with a more incentivised lower rate Validator’ and reduces the Sybil Attack chance. As both would be in the 5% range, increasing the costs of paying for a second node with no real benefits. This parameter change does not affect the DynComm Module (it is held within the Staking subspace and was previously passed by governance), but DynComm will take into account this parameter change within its current calculation.
Submitted
06 Mar 2024, 15:51:16 UTC
Vote closed
13 Mar 2024, 18:37:39 UTC
Not approved
The proposal did not produce an approved governance action.
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/cosmos.gov.v1.MsgExecLegacyContent/cosmos.params.v1beta1.ParameterChangeProposalReached
64.71% participating
Approval
Below threshold
37.89% decisive Yes
Veto
Below threshold
0.50% of participation
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Staking ratio
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7 days
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30 days
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90 days
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