Quick update following 12/18 Governance Call:
I’m asking Martin Volpe if it’s possible to provide 3 options for people to vote on (apparently it’s not something that has been done before). Synthesizing suggestions from the call (+above) and given this proposal would affect a lot of people, it seems worth giving an option:
1. Reduce the set by half
2. Reduce rewards by half
3. Keep the current set, with rewards reduced to zero (economically equivalent to reducing validator set to 0). Note, this wouldn’t require a huge heads up time for cLabs like reducing the validator set to 0 would.
From my perspective, they all reduce costs (target outcome), but I’m trying to incorporate folks feedback to be “smart” about how we best do it.