Summary
This proposal seeks to increase the governance quorum on the dYdX Chain from 33.4% to 50%.
Abstract
Quorum is the minimum share of staked DYDX that must vote on a proposal for the result to be valid. dYdX currently sets this at 33.4%, meaning a proposal can take effect with participation from roughly a third of staked DYDX. This proposal raises the quorum to 50%, so that any proposal requires participation from a majority of staked DYDX before it can pass. The goal is to strengthen the mandate behind on-chain decisions, building on the network’s recently extended voting periods.
Motivation
A few considerations support this change:
- Stronger mandate for on-chain decisions. Governance proposals can adjust chain parameters and direct protocol funds. Requiring a majority of staked DYDX to participate helps ensure these outcomes reflect the broader validators and stakers base.
- A healthier margin for the governance process. A higher quorum raises the amount of stakeweight required for a proposal to pass.
Specification
This proposal seeks community approval to make the following change to the quorum parameter in the x/gov module:
| Parameter | Current Value | Proposed Value |
|---|---|---|
| quorum | 33.4% | 50% |
Note that dYdX’s x/gov module uses a single quorum parameter that applies to both regular and expedited proposals; there is no separate expedited quorum. This change therefore applies to all proposals. No other governance parameters (deposit amounts, thresholds, veto threshold, or voting periods) are modified by this proposal.
Next Steps
We invite the dYdX community to review and provide feedback on this proposal. If no significant objections are raised, we plan to submit the on-chain proposal this week.