Increase the Minimum Deposit for Governance Proposals
passed
Expected result
—
Turnout / Quorum
57.57% / 40.00%
Voting start 2022.08.15 at 16:08:53
Voting end 2022.08.20 at 16:08:53
99.96%
1 878 623 275 umee
Yes
0.03%
522 492 umee
No
0.01%
162 560 umee
Veto
0.00%
62 565 umee
Abstain
Details
Proposer
-
Total deposit
10 000 umee
Submit time
2022.08.15 at 16:08:53
Deposit end time
2022.08.29 at 16:08:53
Description
- By voting YES, you agree that the minimum deposit needed for a governance proposal to enter the voting period should be increased from 10,000 UMEE to 100,000 UMEE. * By voting NO, you disagree with the changes proposed. ** Details ** Currently the minimum deposit needed to submit an on-chain proposal is 10,000 UMEE, worth approximately $165 at the time of writing. As seen on other major chains in the Cosmos ecosystem (Osmosis, Evmos, Juno) the lower value of minimum deposits allows bad actors to submit spam/scam proposals that can be dangerous for community members with minimal financial repercussions for the proposer. Increasing the minimum deposit amount to 100,000 UMEE ($1,655 at time of writing) will increase the penalty for a proposer if an on-chain proposal is vetoed, and further help discourage spam/scam proposals. While a 100,000 UMEE minimum deposit may be out of reach for many individuals, it’s important to note that anyone can contribute to help a proposal meet the minimum deposit requirement during the 14 day deposit period. This can be easily done with tools like Commonwealth, ping.pub, or through the CLI. Commonwealth Post: https://gov.umee.cc/discussion/6515-increase-the-minimum-deposit-for-governance-proposals
Votes
Voter
Answer