Two Atom governance proposals have generated a lot of discussion in the Cosmos community lately: Proposal 75 and Proposal 796.
Proposal 75 proposed to update the definition of “NoWithVeto.” NoWithVeto is a mechanism that allows voters to indicate that they strongly disagree with a proposal. If more than 1/3 of voters cast a NoWithVeto vote, the proposal is rejected.
The current definition of NoWithVeto is as follows:
A ‘NoWithVeto’ vote indicates a proposal either (1) is deemed to be spam, i.e., irrelevant to Cosmos Hub, (2) disproportionately infringes on minority interests, or (3) violates or encourages violation of the rules of engagement as currently set out by Cosmos Hub governance.
Proposal 75 passed on August 29, 2022, with 55.67% of the vote.
The proponents of Proposal 75 argued that the changes made by Proposal 75 are necessary to protect the Cosmos Hub from spam and abuse. They argued that the new definition of NoWithVeto will make it more difficult for malicious actors to propose harmful or disruptive changes to the network.
Those opposed to Proposal 75 argued that the changes made by Proposal 75 are unfair to ATOM holders. They argued that the new definition of NoWithVeto gives too much power to validators and that it makes it more difficult for ATOM holders to have a say in the governance of the Cosmos Hub.
Proposal 796
Proposal 796 proposes to nullify Proposal 75. The proponents of Proposal 796 say it would simplify the governance process. Currently, there are four different vote options: Yes, No, Abstain, and NoWithVeto. Proposal 796 would simplify the process by only requiring the “Yes” option to be defined. This would make it easier for people to understand how to vote on proposals and would make the governance process more accessible to everyone.
The opponents of Proposal 796 argue that the changes made by Proposal 75 are necessary because without them it could lead to confusion and uncertainty about the governance process, which could make it more difficult for the Cosmos community to make decisions about the network.
The Cosmos community is still debating proposal 796, and it is not yet clear if it will pass. However, the debate has highlighted the importance of decentralized governance and the need for a strong community to support it.
Here’s what some of the Cosmos validators have to say about Proposal 796:
Keplr, a Cosmos validator, has weighed in on the debate. They believe that NWV votes should not be exclusively reserved for spam proposals. They argue that there are many other reasons why someone might vote NWV, such as:
- To express the intensity of their opinion
- To prevent tyranny of the majority
- To voice a stronger opinion than their validator
Keplr believes that it is important to have a diversity of opinions in the Cosmos community, and that NWV votes are an important way to ensure that all voices are heard.
CryptoCrew Validators is a Cosmos validator that is committed to simplifying the governance process and increasing participation within the Cosmos hub community. They believe that Proposal 796 is a step in the right direction, as it would simplify the governance process by only requiring the “Yes” option to be defined. This would eliminate the need for authors of governance proposals to spend time and effort on explaining vote options that are already well-defined in the software and its documentation.
Other validators:
Notional (0.55%): Yes
#decentralizehk – DHK dao (0.27%): No
Swiss Staking (1%): Yes
Oni ⛩️ (0.15%): Yes
AUDIT.one (0.29%): Abstain
✅ CryptoCrew Validators 🏆 Winner #GameOfChains (0.17%): Yes
WhisperNode🤐 (0.13%): Yes
Kiln (0.2%): Yes
Stakin (0.18%): Yes
Keplr (0.13%): No
Stakecito (0.5%): Abstain
FreshSTAKING (0.17%): No
GATA DAO (0.07%): No
Citizen Cosmos (0.1%): Yes
Silk Nodes (0.12%): Abstain
Bro_n_Bro (0.15%): Abstain
Cosmos Spaces ☮️ 💜 ⚛️ (0.06%): Yes
As you can see, there is a wide range of perspectives on Proposal 796. Some validators believe that it is necessary to nullify Proposal 75. Others believe that Proposal 75 is necessary. Ultimately, it is up to the Cosmos community to decide how to vote.
Currently Proposal 796 is not passing with 33.36% turnout and voting slated to end on May 19. 48.52% voted “yes,” 51.06% voted “no,” 19.30% have chosen to “abstain,” and 0.18% voted “no with veto.”
