We recognize the pivotal role that decentralization plays in fostering a truly inclusive and democratic governance model within our Osmosis community. Currently, we observe that a substantial portion of the Osmosis validator sets is concentrated within the Top 50, comprising over 70% of the total 352M Osmo staked. This concentration results in a governance structure heavily influenced by the top 50 validators.
To address this governance concentration and promote a more evenly distributed staking landscape, we propose the implementation of a hard cap on maximum staking and voting power per validator, set at 5M OSMO. By enforcing this limit, we aim to facilitate the redistribution of voting power across the entire spectrum of the 150 validator set. Even this hardcap might not be perfect to achieve the decentralization among validaotr set but atleast it will make some balance compared to current state.
This measure is designed to enhance the decentralization of governance, ensuring a more diverse and inclusive decision-making process. We believe that by encouraging broader participation and stake distribution, Osmosis can strengthen its resilience, security, and overall community engagement.
Your support for this proposal is crucial in shaping the future of Osmosis, fostering a governance system that truly represents the collective voice of our diverse community. Let us work together to fortify the principles of decentralization and ensure the long-term success of Osmosis.
Looking forward to get your feedback on this proposal