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Proposing to the Dymocracy

It is permission-less to propose to the community but requires a deposit of 1000 DYM to reduce the likelihood of spam, anyone may contribute to the deposit. The deposited amount is returned to the submitter(s) upon completion of the proposal period (even if the proposal is declined). The deposit is burned if the community votes No with veto which should be reserved for proposals that are spam or percieved to be harmful to the protocol.

Community members have up to five days to deposit the minimum required amount of DYM and five days to vote on the proposal after the deposit minimum is reached. Submitting a proposal may be done via the CLI or third-party user interfaces.

Governance threshold‚Äč

  • Minimum deposit: 1000 DYM
  • Maximum deposit period: 5 days
  • Voting period: 5 days
  • Quorum: 33.40% of participating voting power
  • Pass threshold: 50% of participating voting power
  • Veto threshold: 33.40% of participating voting power

Example command for param-change:

dymd tx gov submit-legacy-proposal param-change block-params.json

Example JSON:

{
"title": "Increase max_bytes and max_gas in BlockParams to increase max TPS",
"description": "max TPS is suboptimal causing slow transactions processing during high load. This proposal aims at increasing the max TPS by changing the `BlockParams`",
"changes": [
{
"subspace": "baseapp",
"key": "BlockParams",
"value": { "max_bytes": "5242880", "max_gas": "400000000" }
}
],
"deposit": "1000000000000000000000adym"
}

This updates the values of max_bytes and max_gas in the BlockParams key. This was proposed and approved as part of Dymension's proposal #1.