Dear community,
I would like to engage you in discussions related to adjustments of the following staking parameters:
- Increasing the minimum number of tokens to create a nomination pool from
200 DOT to 500 DOT
- Increasing the bond size required to become a direct nominator from
100* DOT to 200 DOT
- Enabling fast unstake on Polkadot
- Increasing the number of validator candidates from
1200 to 1500 in anticipation of an increase in the active set of validators
**The threshold for direct nomination**
At the time of writing, the minimum bond size for an active nominator is `293.7 DOT`. This number is quickly increasing leaving a staggering `23,000+` inactive nomination bonds. This increase has also resulted in some nomination pools becoming stagnant as the requirement to create a nomination pool is `200.00 DOT`. To address these issues I am proposing that we increase the minimum bond size for a direct nominator to `200.00 DOT` and to also enable fast unstaking on Polkadot. This combination of actions would discourage creation of new nominator bonds which would not reasonably be eligible for active nomination. Fast unstaking would then allow some of these `23,000+` inactive bonds to quickly reclaim their funds.
I am also suggesting that we increase the minimum number of tokens to create a nomination pool to `500 DOT`. This would guarantee that new pools would be participants in staking. It is important that nomination pools provide stakers with a route for active staking and we should support this with adequate thresholds.
As we're issuing adjustments to the staking configurations, I would like to take the opportunity to also increase the number of validator candidates from `1200` to `1500` in anticipation of an expanded validator set.
Regards,
Will | Paradox