As part of the planned merger of the DOCK token and blockchain with the cheqd blockchain, that DOCK token holders approved, the network is set to sunset in 2025. With this significant transition on the horizon, we are proposing proactive measures to safeguard the network from potential volatility and ensure its stability during this period.
In light of this, we are proposing an important change to the validator structure: reducing the active set of validators from 50 to 20.
Additionally, we propose raising the self-bond requirement to 1 million tokens for any entity wishing to participate as a validator.
If you are currently among the top 20 validators, measured by total bonded amount, this change will not affect your status. However, to remain an active validator, you must be in the top 20. We recognize that this action may reduce the overall decentralization of the network in the short term. However, this is a necessary measure designed to ensure the smooth management of the sunsetting network. Once the token migration begins, we will monitor the state of the network and may need to adjust these settings again.
This proposal is now open to voting for DOCK token holders. You will have 7 days to cast your vote. If approved, the changes will be automatically enacted at the conclusion of the voting period.
Vote here: https://fe.dock.io/#/democracy
We value your participation in this important decision.
