I really like that we are heading in a cross-chain governance direction. This is really cool!
Can you expand more on why we need to increase the Minimum Proposal Threshold? I understand there is a higher circulating supply now, but why would that mean that we need to increase the amount of WELL you need to hold to submit a proposal? With the current value of the token it essentially requires a ~12k investment to propose something, with the proposed increase, that jumps up to ~32k. We are also really early in the cycle so this bar will naturally rise as the token price increases. Shouldn’t we keep the bar to submit proposals relatively accessible? It looks like you are also increasing the quorum target from 100,000 to 500,000 is that not enough to account for the increased circulating supply? I guess the heart of my question is what is the risk of having a “lower” Minimum Proposal Threshold?
At this point, I would like to see MIP-23 be implemented with the current parameters and have a separate vote for the parameter adjustments you are suggesting. I am interested to hear what answers you have to my question(s) above which may change my mind.
While you’ve clearly gone through great effort to prepare this and passed it through several rounds of testing. I personally would have liked to see it be implemented in a canary environment and see it in action before rolling it out on our flagship implementation of Moonwell. It would be really cool if Moonwell Apollo (Moonriver) was used to test this out before bringing it to Moonbeam/Base. Understandably that would be difficult since we don’t have a deployment of Apollo on another chain, but interestingly enough, @Chiefpreneur just started that conversation over in this thread: Activate Moonwell Apollo on Polygon POS.
What are your thoughts on expanding Apollo to another chain so that we can test cross-chain functionality there first in the future?
Have you tested your proposed cross-chain governance mechanisms on the respective testnet deployment of Base and Moonbeam? Are we able to play around with that before rolling this out on Mainnet?
Thanks again for putting all of this together. In general, I am supportive of the essence of these proposals, looking forward to hearing your thoughts on the above.