[IRIS HUB] [Draft] Proposal 4 - Governance Efficiency

Requesting comment and discussion on improving efficiency on the governance process. In the spirit of streamlining governance I have a few suggestions that I would like to seek feedback on for voting periods, quorum percentage, and validator set.

Quorum
Reduce quorum to 40% from 50%

For now, the opinion is that this could allow existing and active governance to be streamlined. There was a situation recently where an important proposal failed to reach quorum and missed by 0.6% because of a lack of participation from other members ignoring.

Voting Period
Extend the voting period to 10 days from 5 days

Extension of a voting period will ensure that there is sufficient time for participating governance members to view the proposal, discuss, and vote. Even at this it is 4 Days less than Cosmos Hub and we at stakefish believe that it is a good trade-off between proposals and validators review times.

Validator Set
Increase the validator set to 110 from 100

Increasing the validator set should be important for both redelegation purposes, decentralization, and welcoming new entrants.

4 Likes

I support this for sure. The lack in voting is because the validators like Huobi and Binance never cast votes in the blockchain and they have the majority of coins.

I will reduce the voting period from 10 days to 7 days (1 week).

This proposal is an excellent initiative to decentralize the blockchain space.

Lets go “Yes”

1 Like

Hello @dh_fish

Good for me but I would propose 115 seats instead of 110. There are few validators that didn’t upgrade to the new iris hub and some newcomers I’ve heard about that would be interested to join.

2 Likes

Don’t see anything wrong with that. Intention is to increase set!

1 Like

@dh_fish Are you creating the proposal or you want us to create it?

2 Likes

I can set it up! Perhaps we can get some more input or questions from other IRIS validators and then push it to an official vote?

Would like to make sure we have good approvals on this.

1 Like

As far as I have contacted all validators on last proposal, they were all approving it. We miss it on 0.5%… and last one did the tx 1hour after end vote…
So for me it is ok, the proposal doesnt start until we put 1k iris anyway

2 Likes

Ok. Let’s do it. I will likely push it out tomorrow once I get final approval internally and have some time to have this reach others I pinged as well!

3 Likes

Thanks everyone for your comments!

1 Like

We will support the proposal which should bring more decentralization and higher governance involvement.

1 Like

i have a question how this affect the reward of delegators?