Dear Community,
Seeing multiple validators start their validators with 0% commission in an aim to attract outsized voting power we propose - with support of the XION foundation - to set a minimum commission for validators.
Together with the current randomized interface this will be the main 2 tools to promote correct delegator decisions and promote a decentralized validator set.
We propose the following proposal text and will go on-chain in ~7days.
We have been fans of a minimum commission floors as a decentralisation tool for a long time and have seen its effects on young ecosystems, we hope the community sees this as a minor but valuable parameter change, feel free to direct any questions to this thread.
Best,
Lavender.Five Nodes
{
"messages": [
{
"@type": "/cosmos.staking.v1beta1.MsgUpdateParams",
"authority": "xion10d07y265gmmuvt4z0w9aw880jnsr700jctf8qc",
"params": {
"unbonding_time": "504h0m0s",
"max_validators": 35,
"max_entries": 7,
"historical_entries": 10000,
"bond_denom": "uxion",
"min_commission_rate": "0.050000000000000000"
}
}
],
"metadata": "ipfs://CID",
"deposit": "1000000000uxion",
"title": "Set Minimum Commission Rate",
"summary": "We intend to set a minimum commission rate floor, to equalize competition in the validator space",
"expedited": false
}