[MRC-6] Lower Minimum Proposal Deposit Amount

Proposals MRC (Mars Request for Comment)
1

Summary

The current deposit amount of 100.000 $MARS prohibits valuable governance activity from small holders. We propose lowering the requirement to 5000 $MARS.
Authored by : @traianoverse

Abstract

The current deposit requirement is 100,000 $MARS, which roughly translates to $50,000 in USD as of today. We propose a deposit amount of 5,000 $MARS (approximately $2500 USD). This initial deposit amount was deemed necessary due to the fact that, at the time of launch, $MARS had no value. A lower deposit amount could have facilitated the submission of spam proposals during the early stages of the network’s development before its core principles were established.

Motivation

Now that $MARS has been listed and found a price, we feel comfortable in asking to lower the deposit amount as it could:

  1. Enable community members with good ideas but little capital to participate in governance and request resources from the community pool treasury.
  2. Improve the governance UX for holders who keep most of their $MARS staked or in DeFi activities (providing liquidity, trading activity, etc.).
  3. Increase utilization of treasury (64% of the total supply is allocated to the community pool).
  4. Accelerate Mars Hub development and growth (as for the vision of Mars’ Whitepaper, the objective it’s to deploy outposts across several blockchains, this will require active participation from the community).

Risks

This change makes it easier to submit spam proposals.

Implementation

This can be done by changing the MinDeposit parameter of the Governance module.

4 Likes
2

I think this is a good move. 3000 - 5000 $MARS for a deposit would be much better and still be high enough to discourage spam proposals.

In the even spam proposals pop up, it’s not that hard to submit a new prop to vote for an increase.

2 Likes
3

Completely agree! Think the reasons for having it so high make sense and its now time to lower it.

1 Like
4

I agree with this, It is important to make it accessible for smaller community members to make the proposals.

1 Like
5

Fully support this prop, it’s important to lower the barrier to bring governance proposals on-chain.

Once the bar is lowered and a lot of spam props appear the community might consider increasing it (slightly) again.

1 Like
6

Also support this and a number of other contributors I have spoken to do also.

I would encourage you to submit this on chain after the 7 day period where you can collect deposits towards it.

Feel free to reach out if you need any assistance in doing so.

1 Like
7

Thanks for your availability! Will do that.