Akash Proposal #26


September 12, 2022

On September 10, akash1ajdqcckwn2493jdlpqqde5uerq39z00a0yweqj (a new wallet), submitted Proposal #26 on Akash. The proposal aims to increase the minimum validator commission rate to 5%, meaning all validators charging less than 5% would have to raise their commissions to at least 5%. This is a text proposal, and therefore does not effect on-chain parameters, but the spirit of the proposal should be executed if it passes. This style of proposal is live on other Cosmos SDK chains, like Osmosis and Juno, though was recently rejected by the Cosmos Hub. Moultrie Audits will vote No on this proposal. We've attached the full proposal below and will respond line by line.

"0% or low commissions are known to be bad for the health of the network. By setting up a minimum commission rate, it will help to build a healthier network environment and promote decentralization of Akash network. 5% has been accepted by a wide range of Cosmos community in Osmosis, Juno, Chihuahua, to name a few.

If this proposal is passed, the software of Akash network will be needed to be updated so that commission of all validators lower than 5% will be increased to the minimum automatically. Validators with commission rate lower than 5% should increase their commission rate to 5% as a gentlemen agreemnt before the required network upgrade."

This is a disappointing, lazy proposal. If the effect is to reduce validator sovereignty, surely the issue demands more than 5 sentences. Regardless, we'll proceed.