Proposals of #16

Correcting the gamed stakedrop

Exec Legacy Content
passed
Expected result
Turnout / Quorum
69.79% / 33.40%
Voting start 2022.03.10 at 17:03:02
Voting end 2022.03.15 at 17:03:02
40.85%
11 580 335 juno
Yes
33.76%
9 571 238 juno
No
3.59%
1 018 773 juno
Veto
21.79%
6 176 327 juno
Abstain

Details

logo
Proposer
-
Total deposit
500 juno
Submit time
2022.03.10 at 17:03:16
Deposit end time
2022.03.20 at 17:03:16

Description

Correcting the gamed stakedrop - Proposed by Core-1 after numerous discussions with the community.\n\nBy voting yes on this proposal you agree to reduce the gamed whale address to 50k (Whalecap that was originally set per entity prior to genesis).\n\nNote: The facts are that the Juno genesis stakedrop was gamed by a single entity. Willingly or unwillingly is not relevant to this matter.\nThe whale gamer poses a growing risk to the network and the stakedrop error may be corrected. \nGamed funds were consolidated into 1 address right after genesis which proves that 1 entity had custody over all addresses (linked below). \nThis considerably broke the stakedrop rules of having a max 50k ATOM : 50k JUNO per entity. \nAt the time of the genesis stakedrop there was no way for Core-1 to pro-actively counter act this behavior. \nIf this information would have been known prior to launch, 51/52 of those addresses would have been removed entirely.\n\n## Risks of doing nothing\n\n* High risk to on-chain governance (already has half of quorum)\n* Potential of buying validators with delegations in order to bribe them away from acting\n* Whale gamer can single handedly wipe out the entire DEX liquidity in 10 min or less (Should his funds be unbonded)\n* Fear in the community on a daily basis\n\n## Order of operations\n\n1. Upgrade \n2. Remove funds from whale gamer acct https://www.mintscan.io/juno/account/juno1aeh8gqu9wr4u8ev6edlgfq03rcy6v5twfn0ja8\n3. Send funds to the Juno community pool\n4. Leave 50k JUNO on the address (Fair share)\n5. Core-1 will compansate affected Validators with the next official delegation round\n\nFull proposal https://gateway.ipfs.io/ipfs/Qmf3bGHiSiPTTNohNv4tBn5rvTChoQZNp8UDbGMxPq9HYC

Votes

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