Original Post: Commonwealth
This conversation follows on from Commonwealth
This proposal would signal the development of a new parameter of a percentage of the cast votes that must favor a proposal for it to pass.
The current system allows proposals to pass as long as the number of
yes votes exceeds the number of
no_with_veto votes and the proposal meets the quorum. The current mechanism leads to votes passing with a low proportion of stake being in favor.
This proposal also signals the initial implementation of this parameter at 40%.
This proposal aims to ensure a higher level of support for proposals by increasing the threshold for
Yes votes required for their passage.
Amend the governance rules to mandate that for a proposal to pass, the number of
yes votes must constitute a minimum of 40% of the total votes cast.
Establishing a higher requirement for “yes” votes ensures a more robust consensus among the Osmosis community, promoting higher-quality decision-making.
It discourages the passage of proposals with insufficient backing, thereby reducing the likelihood of passing unpopular or vague proposals which are frequently abstained on by validators.
A proposer would need greater community participation and engagement to meet the new
yes threshold, as proposals would require more support to succeed.
Conversely, this parameter would make Osmosis governance more conservative, with proposals needing to be approved by a significant amount of stake to pass, rather than passing from a minority of stake in favor, with the rest abstaining.
This proposal does not apply retroactively to previously passed proposals. These are used here as examples of proposals that would be affected.
Passing proposals on Osmosis by the proportion of Yes vote compared to 40% parameter
Passed Proposals that would have failed with a 40% yes Quorum
For a complete list of proposals by Yes percentage, see this sheet: Yes Quorum Parameter - Google Sheets
The proposed change would be implemented as an adjustable governance parameter in the gov module during a future software upgrade.
Target on-chain date : 10th June 2023