PIP Name: PIP-94: Paloma Expedited Vote Parameter Updates for 24-Hour Voting
Status: Proposed
Author(s): @BoweryKing
Type: Parameter Change
Discussions-to: Governance - Paloma
Created: 08/28/24
Simple Summary
Update of the Paloma Chain governance parameters to support running expedited votes of 24 hours with a vote deposit of at least 1000GRAIN.
Motivation
The current governance parameters use the default expedited_min_deposit denom of stake, which is not implemented on Paloma. This update overrides the parameter in question to support running expedited votes by depositing at least 1000GRAIN.
Technical Specification
New Parameter settings:
"min_deposit": [
{
"denom": "ugrain",
"amount": "10000000"
}
],
"max_deposit_period": "48h0m0s",
"voting_period": "48h0m0s",
"quorum": "0.334000000000000000",
"threshold": "0.500000000000000000",
"veto_threshold": "0.334000000000000000",
"min_initial_deposit_ratio": "0.000000000000000000",
"proposal_cancel_ratio": "0.500000000000000000",
"expedited_voting_period": "24h0m0s",
"expedited_threshold": "0.667000000000000000",
"expedited_min_deposit": [
{
"denom": "ugrain",
"amount": "1000000000"
}
],
"burn_vote_veto": true,
"min_deposit_ratio": "0.010000000000000000"
How to submit the proposal
Run the following governance command
palomad tx gov submit-proposal pip94.json \
--from <Paloma Address> \
--gas auto \
--fees 1000ugrain
with the following pip94.json
{
"messages": [
{
"@type": "/cosmos.gov.v1.MsgUpdateParams",
"authority": "paloma10d07y265gmmuvt4z0w9aw880jnsr700jz87xyk",
"params": {
"min_deposit": [
{
"denom": "ugrain",
"amount": "10000000"
}
],
"max_deposit_period": "48h0m0s",
"voting_period": "48h0m0s",
"quorum": "0.334000000000000000",
"threshold": "0.500000000000000000",
"veto_threshold": "0.334000000000000000",
"min_initial_deposit_ratio": "0.000000000000000000",
"proposal_cancel_ratio": "0.500000000000000000",
"expedited_voting_period": "24h0m0s",
"expedited_threshold": "0.667000000000000000",
"expedited_min_deposit": [
{
"denom": "ugrain",
"amount": "1000000000"
}
],
"burn_vote_veto": true,
"min_deposit_ratio": "0.010000000000000000"
}
}
],
"metadata": "ipfs://CID",
"deposit": "10000000ugrain",
"title": "PIP-94: Set expedited voting parameters",
"summary": "Set the minimum deposit required to run an expedited proposal to 1000GRAIN",
"expedited": false
}
How to Vote on the Proposal
palomad tx gov vote <vote_id> yes \
--chain-id messenger \
--from=<Paloma Address> \
--fees 400ugrain \
-b block
-y
Rationale
The new governance parameters will allow to run an expedited deposit by depositing a minimum amount of 1000GRAIN.
About Paloma
Paloma Protocol is a Cosmos-SDK blockchain protocol custom-built for automated cross-chain communications that allows permissionless controls of any contract on any chain. Built by Volume, Paloma delivers the world’s first intelligently scheduled and automated smart contract transaction execution for the Cosmos ecosystem. The protocol enables developers to remotely control the transmission of value without the need to wrap, bridge tokens, or trust validators with their digital assets. Led by founding members of Sommelier, Paloma is building the primary communication automation layer of Web3.