Prop #82, titled "ATOM 2.0: A new vision for the Cosmos Hub" is up for voting.
The Cosmos ecosystem is known for its engaged community and governance participation. This often leads to large turnouts and active social media campaigns by supporters to make their case for either side of the proposal.
Normally, a simple majority is all that is needed to win the vote assuming quorum has been reached (40% of voter turnout - this has been reached). However, if 33.4% of the governance voting power votes no-with-veto, then prop #82 will be invalidated.
Initially it seemed that a yes vote was inevitable, however now the tide may be turning...
If at least 33.4% of the votes are no-with-veto at the end of the voting period, the proposal funder will also lose the funds needed to put the proposal up for voting. In prop #82, the amount deposited was 64 ATOM, which is worth nearly $1000 at the time of writing.
Normally no-with-veto is used to punish those that put up spam proposals or proposals that are obviously harmful to the chain. However, using it on valid proposals is allowed by the system and this tactic could invalidate a proposal without the need for a majority.
It could also just be that no-with-veto voters really do see the proposal as harmful to the chain. Some in the Cosmos community have expressed concerns about the reasons behind prop #82.
How the voting has played out today so far:
Team No w/ Veto + No
Some criticisms of the no-with-veto campaign are that the majority of individual accounts are voting yes while large validators are using their disproportionate voting share to sway the vote.
However others in the community have pointed out that validator votes are just as valid because they are elected representatives of the accounts that chose to validate with them, and users can override their validators vote at any time.
@CosmostationVD caused upheaval with their no-with-veto vote, being the 14th largest validator.
@DokiaCapitals no-with-veto vote also caused some alarm in tandem with Cosmostation's vote. Dokia is the 4th largest validator on the cosmos hub.
Community member Johnnie has also been critical of some aspects of prop #82.
The majority of individual accounts are still firmly in the yes camp, however it is still early in the campaign.
Although a lot of heat has come from using the no-with-veto on prop #82, it has been brought up by community member @soi2studio that no-with-veto has been used on the current active proposals recently submitted by cosmos founder @jaekwon.
Other leaders in the community have expressed the desire to get along to find a common solution.
How will this all play out? The voting results will be finished in 10 days on the 14th of November at 11:33 UTC time. Go vote and get your voice heard!
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