Summary : This proposal is to make the vote equal and not stake weight based.
Background : The governance right now is stake weight based. Currently we have 112 elected validators and the first 17 validators control more than 50% of the total stake.
Motivation : With this proposal, the governance will be more balanced between the different validators. This will improve the decentralization of the governance.
- Each elected validator will have 1 vote equal to the current EMS (roughly 5.5M currently).
- Each eligible unelected validator will have a fraction of a vote (between 0 and 1). This fraction will be calculated relatively to the current EMS. Example: An unelected eligible validator with 2.75M in stake will have 0.5 voting power.
Note: Instead of using vote and fraction of vote we can use the capped stake and stake, it is equivalent.
For a vote to be passed it will require the majority (+51%).
Suggested voting options : yes or no
Update 1: Include unelected validators