Polkadot Nomination Pools Initial Configuration
Democracy
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Polkadot community, the time has finally come:

Nomination pools can go live any time now in Polkadot. This is a great milestone, removing any barrier for native relay chain staking for DOT-holders. This proposal suggests the following configuration for nomination pools on Polkadot, following Kian's advice from the staking team:

1 DOT to join a pool. "I actually used to suggest 5 DOTs for a slightly higher sybil resistance, but I think the 5x factor here is not that big of a difference, and allowing staker holders to join pools with at little as 1 DOT is a nice milestone. Moreover, this sybil attack is not really viable as we can easily lift the limit on maximum members (mentioned below) and then it would have no effect."

200 DOTs to create a pool. "This is not a cost or deposit. It is actually the initial collateral/stake of the pool, and by setting it to 200, it will ensure that all pools have an initial stake that’s more than the minimum that’s needed to earn rewards (~170 as of now). This initial stake still earns rewards for the creator of the pool, and can be unstaked once the pool is being dissolved."

Maximum of 64 pools and 16k members in all pools. "These are only there so that if there is a bug, we can easily migrate the data and perform a fix. If we reach these limits, they can trivially be lifted to a higher value. Moreover, if pools work fine for e.g. ~6 months, we can proceed with lifting them altogether."

"I have worked hard on communicating that: “Pools are designed to be infinitely scalable”, I am suggesting these limits only out of extra caution."

This initial configuration composition, aiming to be presented for a vote if the community agrees, can be found HERE. Preimage is submitted. Please note this is an external motion needing root origin: after Council approval, the community will vote to approve or reject this proposal in referenda queue.

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Metadata
Proposer
Hash
Delay
02022-10-31 16:34:00
End
02022-10-31 15:34:00
Threshold
Call
Table
Json
callIndex0x270a
sectionnominationPools
methodsetConfigs
args
minJoinBond
set10000000000
minCreateBond
set2000000000000
maxPools
set64
maxMembers
set16384
maxMembersPerPool
noopnull
TimelineLatest activity undefined
2022-10-07 13:16:54
Started
referendumIndex
78
voteThreshold
SimpleMajority
2022-10-31 15:34:00
Passed
referendumIndex
78
2022-10-31 16:34:00
Executed
result
ok
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