Increase Validator Set to 150

With the recent growth of Juno Network, we have seen a great deal of development and newcomers entering the space, with many new community members and validators wishing to participate as active validators. Currently the floor to become an active validator is quite high, at nearly 47,700 JUNO or approximately $168,000 USD.

As of right now, there is currently a number of validators sitting just outside the active set who have also been active historically, with many more waiting for a set expansion to join in consensus. A more diverse set of validators brings new ideas into the space, new viewpoints in governance and often leads to new innovation and development for the chain.

As with all set expansions, it is possible that expanding the set could have a small effect on the overall block times taking longer, as more validators will be required to achieve consensus. After reviewing analysis of previous set expansions, these effects appear negligible upon block times during that period, but it is important to communicate clearly both the pros and cons of any parameter change to the network.

Decentralization of Stake

Set expansions are not a perfect science, and in reviewing that same analysis provided by some other talented validators, we have seen that historically these expansions don't always lead to further decentralization of stake on their own.

We hope that delegators will take the opportunity of this set expansion to rebalance their stake from the top of the active set to competent validators lower on the list.

Balancing your stake outside the top 10 to 20 validators on the network is the best way to assist in this initiative, as we work together as a community to improve the voting power balance on Juno even further.

Best Practices

We also strongly encourage new validators entering the set to avoid behavior such as NFT giveaways, validator specific snapshots or commission refunds/rebates which circumvent the 5 percent minimum commissions as established by Juno Network Prop 3.

Equally we recommend that delegators and investors avoid participating in these activities if they see them, and instead find strong validators which respect and follow the parameters of the network as they were established through the governance, by the community. Keep your stake safe by choosing technically competent validators.

Vote

By voting YES to this proposal, you agree to change the MaxValidators parameter from 135 to 150, allowing 15 new validators to enter the set.

By voting NO to this proposal, you disagree with increasing the validator set and prefer keeping the current MaxValidator value of 135.

By voting ABSTAIN, you formally decline to vote either for or against the proposal.

Voting NOWITHVETO expresses that you would like to see depositors penalized by revocation of their 500 JUNO deposit, and contributes towards an automatic 1/3 veto threshold.

This proposal was submitted by Oni Validator