Proposal 32: Param Change : Lower minimum proposal deposit amount

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Proposal 32

The current deposit amount of 1000 SCRTs which prohibits valuable governance activity from small holders or those with most of their SCRT locked in staking. We propose lowering the requirement to 100 SCRTs.

This was discussed in the Telegram Gov Channel.

Goals:

  1. Enable community members with good ideas but little capital to participate in governance and request resources from the community pool treasury.
  2. Increase utilization of treasury (currently 1 Million SCRT, approximately $3.5 Million USD, at time of writing).
  3. Accelerate Secret Network development and growth.

Risks:

  • Spam Proposals
  • Decreased participation in voter activity per-proposal, due to an increase in the number of proposals.

This is an active form post for the same discussion. Validator please vote to pass the proposal on the network.

Note: Even the ATOM ecosystem is having a proposal to reduce the min ATOM required for deposits read more here Proposal 47 on CosmosHub

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Hi Mohammed
Since you copied the Cosmos proposal lets look at the effect of it;

Change the minimum proposal deposit requirement from 512 ATOMs (aprox. $10,000 USD) to 64 ATOMs (aprox. $1,300 USD).

As of today that 64 is close to $2k, not that far off from where we are now, $3600, whereas you’re proposing ~$360.

In the past folks including myself have been quick to make deposits when needed, and we haven’t seen one lacking a deposit yet, though in those cases they’ve discussed the proposal here beforehand.

That said in general I agree with some change to this param to keep up with the times, would prefer for us to think about some dollar ballpark to later reference, cos this change will come up again and again.

1 Like
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Can you temporarily lower the price for proposal deposits? For instance, the next 12 proposals will be accepted for a deposit fee of only $200!

It seems like based on the quality and quantity of those proposals a more accurate assessment of the situation could be made.

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Agree cosmos has a higher price regardless of their reduction. But i still think a lower amount for SCRT is good in dollar value.

  1. Since SCRT is harder to acquire than ATOM.
  2. SCRT community is relatively smaller than ATOM.
  3. SCRT pool has not seen a proper spend proposal in the past 5 months.

Agree that most past proposals have received deposits, but i hope this reduction will bring more proposals to the table.

(But on the same note not everyone knows that a proposal can have multiple deposits, especially less tech savy)

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We can always increase this if we see issues with the amount.

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It’s unclear where the bottleneck in proposals is coming from but I agree that making it cheaper can’t hurt.

I am new here but I’ve spent some time trying to catch up. From what I have seen the proposals can be too grandiose or sparse on details. I think almost everyone would agree that now is a good time to spend some money on marketing. Why not just hire it out to an ad agency that specializes in this? It doesn’t have to be a lot of money and the traffic will tell you if the money has been well spent.