This thread is for public discussion of governance proposals on the althea L1 pre-launch testnet
The idea is that a series of governance proposals on this testnet will decide launch parameters for Alteha L1. All of these parameters may be updated by governance to different values post launch but whatever passes testnet governance will be the parameters at launch time.
Set Community Tax to Zero for Althea L1 Mainnet
This proposal, if passed, will set the community tax to zero for the Althea L1 mainnet. The distribution module community tax parameter specifies an amount of staking rewards that go to the community pool. Since Althea L1 will be launching with a robust community pool token supply there is no need to effectively reduce inflation to replenish it.
Set downtime slashing params for Althea L1 Mainnet
This proposal, if passed, will set a number of slashing parameters for Althea L1 mainnet. The objective is to encourage more small, self hosted validators to participate in the network. This decision will increase resiliency, compared to having many validators in the same data centers. Initially we intend to set the downtime slashing parameter to zero, meaning the only penalty for downtime is lost rewards during the jail period. The jail period, during which a slashed validator is removed from the active validating set, can not rejoin for 24 hours. The signed blocks window will be set to 10,000 blocks with 50% needing to be signed during that window to avoid downtime slashing. This is somewhere between 7 and 10 hours depending on block production speed and should provide ample time for a self hosted validator to wake up and view their status.
Set governance deposit and voting period for Althea L1 Mainnet
This proposal, if passed, will set the required deposit amount and voting period for governance proposals on Althea L1 mainnet. The proposed deposit amount is 500 ALTHEA and the voting period is set at 3 days.
Set Althea L1 inflation to 0.0% for launch only
This proposal if passed will set inflation for a temporary period around Althea L1 mainnet launch. During the period between chain launch and unlock, some participants may have trouble setting up delegations. In order to avoid excessive accumulation of inflationary rewards during this interim period, inflation should be set to a very low value. Once this period has passed and delegations have stabilized, a long term inflation rate should be voted on in a separate proposal.
Enable Liquid Staking on Althea L1
This proposal, if passed, will set the required Interchain Accounts messages required by liquid staking providers as allowed on chain start.
Set Althea L1 mainnet validator cap to 75
If passed this proposal will set the validator cap for Althea L1 mainnet to 75 validators. Once more than 75 validators are online, only the top 75 in terms of ALTHEA stake will be permitted to propose and create blocks. This is a compromise value between a larger and smaller set. Smaller validator sets provide better block speed at the cost of decentralization; larger sets provide better decentralization but slow down block times.
This looks good to me. I especially like the inflation rewards initially set to 0. As you said, it allows investors to take their time with staking and not miss out on rewards. The other notable one is the slashing penalty, which, when set to 0, gives folks some assurance that they won’t lose, not only their own but also, stakeholders tokens. As someone who hosts his servers at home, it’s reassuring that when my ISP decides to do upgrades in the middle of the night or the power goes out, that I don’t need to worry.
Looks good, thanks for posting and providing forum for feedback. I’m a little disappointed about < 100 validators but I understand why. One thing I would like to add, invariants are killing me on Gravity Bridge, I’m hoping we don’t have the periodic invariant check required for Althea.
very reasonable suggestions that will help to avoid problems in the future and reduce the number of votes in the main network.
LGTM.
also, as Althea is EVM-chain do we need any evm-related governance props?like usdc(t) token-register or smth like this.
The signed blocks window is too short as need additional time to restore the status of the node via syncing blocks or state sync.
Parameters look reasonable to me. Downtime of 7-10 hours is fine for most operators. I don’t think slashing should be set to zero however. I understand the intent to encourage smaller operators, but this could result in poor incentive alignment. If there’s no slashing why even bother responding to a server alarm? Missed rewards is not enough to incentivize.