Gotta disagree about 0% ers.
We should take them seriously, because these “marketing operations” – definitely want to monetize at some point. So they can do a 0% / bribe attack, or they can eventually just raise commissions on their (usually unsuspecting) delegators.
The attack you described is non-viable:
Top 7 is enough to halt the chain, this is true. But it would take 50% of all bonded stake to push through a gov prop to slam the minimum commission to 100%. If we look at the 50% set (66% picured above) we can see that there are many indies in there, whose delegators would override their votes.
Furthermore, we should account for delegator agency & the override. I think that it is much more likely that:
True story about minimum commissions
Notional is doing pretty good now, and our members write all kinds of code in cosmos.
Notional’s seed capital was 1x Uniswap airdrop, sold near the top value of that airdrop. Nothing else. No VC backing, certainly no support on the cosmos hub despite tons of code contributions. We got here because osmosis had minimum commissions and the team and community (both) saw our work as valuable and delegated to us. There was truly nothing more to it.
Notional is helped significantly by minimum commission policies on:
It’s important for the hub to be able to have minimum commissions, even if that commission isn’t 5%. Otherwise, the most likely outcome here is that the hub should be de-prioritized for validators.
This is an issue, since the hub’s operational complexity is going to go up a great deal with ics.
Race to the bottom
In a race to the bottom scenario, delegations from the icf are meaningless. All delegations are meaningless if they occur on Gaia. We validate the hub solely for brand image. We cannot pay anyone with hub delegations. For us, the hub giveth zero, the ultimate outcome of a race ot the bottom scenario.
Also, if we’re going free markets, there’s a global fee module in the next version of the hub. I think we’d need to remove it. Fees should be zero because free markets.