IRIS Hub Proposal #4
Today, April 26, 2021, IRISnet validator stakefish submitted on-chain a governance proposal — [Proposal #4 Governance Efficiency ]— that aims to significantly improve several parameters of the blockchain itself and the overall experience and effectiveness of participating users and validators in governance.
The proposal counts three major points:
- Reduce quorum to 40% from 50%
According to stakefish, this will ensure that the chain maintains a certain fluidity in the governance process, which is necessary to ensure an appropriate level of participation and readiness to promptly push any improvements proposed by the Core Team and the Community.
- Extend the voting period to 10 days from 5 days
Because most validators are actively engaged in multiple projects, this makes it impossible for teams to view a governance proposal in detail and with the attention needed. It is therefore proposed by stakefish to increase the voting period to 10 days, which is considered a reasonable time frame to allow validators to participate in an informed and conscious way.
- Increase the validator set to 115 from 100
IRISnet is one of the blockchains with the highest level of participation in the entire Cosmos ecosystem, and this can be easily seen by the waiting list of validators aiming to join the active set (already composed by 100 operators). By proposing to increase the active set of the IRIS Hub, stakefish emphasizes once again the importance of supporting a gradual but steady decentralization and giving the opportunity to new validators to confront and grow together with an incredible active set composed by some of the legends of the Cosmos Network.
This is a parameter change proposal and once the minimum requirement of the deposit will be met, this proposal will enter into the voting period (5 days long).
If this proposal passes, all the changes indicated by stakefish validator in its proposal will be reflected in the IRIS Hub.
About stakefish Validator
stakefish is a staking service provider for major Proof of Stake blockchain networks. With support for 10+ networks, their mission is to secure and actively contribute to new ecosystems while enabling users to stake with confidence.
IRISnet (a.k.a IRIS Hub) is designed to be the foundation for next-generation distributed applications. Built with Cosmos-SDK, IRIS Hub enables cross-chain interoperability through a unified service model, while providing a variety of modules to support DeFi applications.