We at cLabs have been noticing that the baseline participation level required to pass governance proposals has been increasing rather quickly and rallying the requisite votes is becoming a barrier to upgrading the protocol. There are a couple parameters that can be tweaked to address this. The baselineQuorumFactor is the proportion of the historical average participation level that constitutes quorum. This is currently set to 1, which is the highest possible level and decreasing it would have the benefit of immediately reducing the quorum and alleviating the barrier to upgrades. We’ll probably want to reduce this value as it is currently quite high and passing proposals has already become challenging. An additional option is the baselineUpdateFactor — the weight of the most recent proposal on the historical participation average. Reducing the baselineUpdateFactor would decrease the rate at which the baseline quorum increases going forward but would not decrease the current baseline. It’s difficult to anticipate how fast participation levels will increase in the future, so it may be too early to know whether an update to this variable is appropriate, but we’d love to get the community’s input on this.
Please let us know what you think!
The cLabs Team