Increase Deposit Amount for Cosmos Hub Governance

Proposal Deposit Concept:

• For governance proposals to enter voting, a proposal must be submitted with a deposit of the amount defined by the min_deposit param in the governance module before the deposit end time.
• A proposal minimum deposit can be contributed to and submitted by multiple different accounts, not just a single wallet, and it does not have to be fully submitted by the proposer account.
• The proposer account is only required to deposit ~1 ATOM.

Proposal to Increase Deposit Amount:

By the time of writing and at the current token price value, the minimum deposit costs 64 ATOM or approximately 640 in USD equivalent, which currently appears to be inadequate at preventing spam proposals and may not be high enough to encourage more thoughtful approaches towards proposal submissions.

With the passing of this proposal, the minimum deposit will be increased to 250 ATOM or approximately 2,500 in USD equivalent. This change will not be permanent and can be changed again later via governance. This proposal deposit price adjustment aligns more closely with recent parameter changes that other chains within the Cosmos have made.

Important Note:

Community Members must not be priced out of making proposals on chain. 250 ATOM is likely a large enough deposit to deter spam, while still being within the reach of most community members to campaign for a deposit, or provide one themselves.

Multiple wallets may fund a proposal deposit, so this remains within the ability of most Cosmos Hub users to campaign for and crowdsource funding from other community members and validators, wherever a good proposal may exist, but funding for a deposit is lacking.

Voting:

• By voting YES, you agree that the minimum deposit for a proposal to enter the voting period should be increased from 64 ATOM to 250 ATOM.
• By voting NO, you disagree that the minimum deposit for a proposal to enter the voting period should be increased from 64 ATOM to 250 ATOM.
• By voting ABSTAIN, you formally decline to vote either for or against the proposal.
• Voting NOWITHVETO expresses that you would like to see depositors penalized by revocation of their proposal deposit, and contributes towards an automatic 1/3 veto threshold.

Proposal submitted by Oni Validator. Cosmos Forum discussion regarding this proposal can be found here.