Attn : Atom holders
Re : Atom Transfers Proposal: https://cosmos.bigdipper.live/proposals/2
AiB (All in Bits) will work with SimplyVC to propose a slightly modified proposal, with some needed changes, namely, with a new chainID, block size parameters, and a two-phase process for software upgrades. AiB recommends that those who have already voted YES to change their votes to NO for proposal-2.
This proposal isn’t intended to delay enabling transfers but to tweak some properties and to get 2/3rds votes on a specific code hash before an upgrade happens.
- The desired chain upgrade mechanism for enabling transfers will start the chain from height 0, so it is necessary to bump the chainID to prevent double signing by validators. This is why the chainID ends with a “-1” suffix. The upgrade must change the chainID to “cosmoshub-2”.
- The max block size and gas parameters shouldn’t change drastically from the current hub, especially before state syncing is fully implemented. Tendermint state syncing is on our immediate roadmap, once we have completed implementation and testnet testing, we can bump the block size up. AiB will recommend a 33% increase, for max_bytes to 200K, and max_gas to 2M.
- We strongly favor a two-phase software upgrade process — the first proposal to agree on the scope of changes and the proposed software provider, and a second proposal to agree on the exact software Git commit hash and block height for the export-import upgrade. The first proposal will state that the second proposal need not wait the full 2 week voting period, but instead will be considered to have passed once +⅔ of the bonded Atoms have voted in favor, and stayed in favor continuously for a period of 24 hours (while disregarding the quorum requirement of 40%, for safety and liveness reasons). For more information, please see Post-Launch Roadmap - Proposal: Atom Transfers
For now, we recommend that those who voted YES change their votes to NO, and for those who haven’t voted yet to not vote, so as to prevent the 40% quorum from reaching. Should the 40% quorum be reached, we recommend that everyone vote NO for this proposal #2. If you agree with this posting, please share it w/ other ATOM validators and delegators.
We will provide more details around Thursday noon PDT, and in the meantime also update this posting w/ a link to a forum for further discussions.
NOTE: In the future we should upgrade the governance mechanism to allow a further voting grace period once the quorum has been reached, so as to prevent a last-minute “attack” on governance where the quorum is reached to pass the vote. AIB will work with the community to draft that proposal some time after transfers have been enabled.