Summary : This is the start of a proposal to initiate talks about changing the minimum quorum for a vote to pass, which currently sits at 66% of total network stake.
Background : The network governance was set with the expectations that most, if not all, validators would vote. As we can now see in practice, this is hardly possible. While there are still 7 days left to vote on the two proposals, I feel we would need to change the minimum quorum needed. Currently, even the EPoS bounds proposal, that everyone agrees on, is below the 66% minimum quorum. The final snapshot is taken at the last epoch in which the proposals close, so these percentages can still vary, however given that some validators will not vote (including Kucoin, the largest one, Binance, Huobi and a few others), the total voting power immediately drops well below 90%, which does not give us a high margin to pass a vote, if not all voters agree. And we all know that is also not possible all the time.
Motivation : This proposal should lighten the minimum quorum needed in order to pass a vote, so it includes the fact that more than 10% of total network will never vote.
Specification : My suggestion is 51% of total network stake to pass a vote. While this is still high, given this is concerning core Harmony network, it should still be a high quorum needed to pass a vote. Essentially that will still be way over 50% of total network stake that will actively vote, eg. the majority. This can be discussed further below as this is merely a starting point and a suggestion.
Suggested voting options : to be decided:
proposal 1: 51% of total network stake needed to pass a vote
proposal 2 (by @RoboValidator): how about 66% of participating validators + 51% participation required.
One issue with requiring 51% agrees is if we do eventually get to close to 100% participation, a controversial proposal with 51% agree vs 49% disagree would pass whereas it normally wouldn’t with the existing 66% global quorum rule.