Validator Set Reduction Proposal (Polkadot)

This proposal starts the first step of a plan to reduce the number of validators on the Polkadot network.

• The plan was first shared on the Polkadot forum a few weeks ago.
• This proposal will lower the validator set to 500 validators.
• The change takes effect in the first era after the call is enacted.
• It also lowers the validator incentive budget of the DAP to a smaller proportional value.
• The change is set to happen at relay block 33,814,400, about one week after the proposal.
• The extra time is meant to give people a better chance to review the change.
• The calls include setting the validator count, setting the DAP budget allocation, and sending superuser commands to the relay chain and Coretime chain to update configuration settings.