As we are almost at 50k nominators and we need to avoid a scenario of no one being able to change or set nominations, this external motion aims to outstrip Referendum 86 aiming to define slightly higher nomination min bond limits, which is currently up for community vote for next 11 days and with a new motion suggest shorter voting and enactment periods. If approved and later fast-tracked by the TC, making Referendum 86 redundant; Hence, this proposal, along with updating several staking configurations, would also cancel the Referendum 86.

Further information about the importance of the higher nomination min bond limits can be found in the initial discussion post here.