Proposal Discussion: Lower LUNA Requrement

512 Luna is currently required to put up a vote on Terra Station!

When that was a few hundred dollars, it was a good minimum amount to prevent spam, but with LUNA at $13, it is now $6656!

Can we either drop the Luna requirement to 50, or consider changing it to a flat 250 UST?

Or, is this working well for everyone?

6 Likes

That sounds the most reasonable ser

5 Likes

Cool, going to float this around Twitter a bit then and from there I’ll get a vote going. Thanks Do!

flat 250 UST sounds better and more prognozable.

2 Likes

Absolutely. Lets do this. High cost for making proposal is anathema to inclusive governance.

1 Like

Appreciate the feedback.

Next question: does Luna need to be the unit for governance, or is UST fine?

Simpler to make UST the unit, but does removing Luna’s part in governance have negative effects?

It should

https://station.terra.money/proposal/58

Thank you for voting!

1 Like

Thanks for initiating a governance proposal @0xJeff ! Unfortunately your proposal (ID #56) is a text proposal, meaning suggested parameter changes (512 Luna to 50 Luna for minimum governance deposits) will not be effective even if this passes.

I’ve posted another on-chain proposal that is exactly the same but in parameter-change format, which will be immediately effective once it passes: Terra Station. Feel free to deposit & vote here :slight_smile:

1 Like

Thanks for the assist!

Only the text proposal passed, anybody knows how much it might take to be effective?

I think the parameter change proposal did not reach quorum so would have to be initiated again unfortunately :worried: