The staking team requested a new proposal to increase the minimum bond and allow new nominators above the threshold to participate in the network’s security mechanism. As mentioned by the Staking team on this message, Polkadot currently has 22500 nominators and the configuration of the staking system prevents further nominators to join.
The team suggests to update the staking parameters: The proposal has the goal to increase the minimum bond to allow new nominators above the threshold to participate in the network’s security mechanism, and for less staked nominators to be chilled. Note that after the latest runtime upgrade (9090), existing nominators can always update their preference at all conditions.
The proposal the team suggested aims to change the staking parameters to allow more nominators with higher backing stake be able to join the staking system. The existing parameters as follows:
120080 DOT22500The new proposed parameters aim to update one value:
120 DOTsThe team aims to increase the limit enough so that we won't need to do another tweak for at least a month. Multiple tracks of optimization are ongoing by the development team, and you can read more about them on this issue. Furthermore, a monthly progress report will be released here to communicate the technical details. Please note that increasing the value of the parameter to 120 DOTs will hopefully give the team another more time until the new threshold is reached and we have made progress on a more permanent solution. Please leave your comments and feedback on the proposal. Keep in mind these measure is temporary, and the overall goal is the stability and security of the network.
0xb862a50c4e8541c013637e9766f3059af75218f0f9630dc8b6c85dc8f633a971Please vote at your convenience!