Increase Minimum Proposal Deposit to Prevent Spam Attacks
Details
Description
Summary
This proposal aims to increase minimum deposit for proposals from 200 REGEN to 2000 REGEN. There has been a plague of spammers posting multiple scam links to multiple chains in cosmos.
Let's defend our governance process.
Regen should take proactive measures to prevent the spam links from being posted in our community governance process.
Voting
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By voting 'Yes' you agree to raise the minimum deposit for governance proposals to 2000 REGEN.
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By voting 'No' you do not agree to raise the minimum deposit for governance proposals to 2000 REGEN.
Background
Stargaze has been hit with 7 spam proposals in the last 6 days. Their response has been to raise the fiat value of deposit from $115 to $460. But they've got to endure 3 more days of spam during while the voting period lasts until the new higher amount goes into effect.
Gravity Bridge has also been hit with 7 spam proposals in the last 7 days. Their response has been to raise the minimum deposit value from $10 to $480.
Ixo was recently hit with 10 spam proposals in one day.
Regen's current cost is only $34, well below what the spammers have been willing to pay to have their malware links posted to mintscan and keplr, immutably forever to the blockchain.
The max Deposit Period for proposals on Regen is 14 days, plenty of time for validators and the community to contribute to valid proposals if the proposer were to not have the required minimum deposit amount, that is what the Deposit Period was made for.
If any spammers were to post 2000 REGEN and their proposal is dutifully vetoed by the community, they lose those funds, which are then added to the Community Spending pool.
Setting a high barrier also ensures that all proposals are well-thought-out and well-done.
Also note, the value of REGEN was around $2-$4 when the 200 REGEN minimum deposit was set, that was a barrier of $600 to $800. Today it's only $34. Raising it to 2000 REGEN will be more reasonable, providing a $340 barrier.
In this case time is of the essence, we should raise as soon as possible as a preventative measure and not wait until we are bombarded with spam proposals. Posted to Commonwealth Here
Votes