Title: Adjusting Validator Self-Stake Amount within BNB Smart Chain
This BEP proposal aims to lower the barrier of entry for potential validators on the BNB Smart Chain (BSC) by reducing the self-stake requirement from 10,000 BNB to 2,000 BNB. To maintain network security and ensure validator performance.
The primary motivation behind the BEP is to lower the cost of entry for new validators on BSC, ensuring that a more diverse range of participants can contribute to the network’s security and decentralization. By reducing the self-stake requirement, we believe that a broader spectrum of validators with varying resources and capabilities will be able to enter the ecosystem.
Moreover, it is essential to acknowledge that the community delegation will ultimately have the final say in the ranking of validators. This democratic approach empowers the BSC community to choose the most suitable and reliable validators, ensuring that those who provide the best service and maintain the highest infrastructure standards are rewarded.
By lowering the barriers to entry and emphasizing community-driven decision-making, the proposal aims to create a more inclusive and robust validator ecosystem. This increased diversity and competition among validators will enhance the network’s security and stability, leading to better decentralization, service, and higher performance for the BSC community.
The lower self-stake requirement to 2,000 BNB for increased validator decentralization & participation.
Lower Self-Stake Requirement:
- Reduce the self-stake requirement for validators from 10,000 BNB to 2,000 BNB.
- The lowered requirement will encourage more potential validators to join the network and contribute to its security and decentralization.
Slashing Amount for Unavailability:
- The slashing amount during unavailability is 50 BNB or 0.5% of the total self-staked amount. The proposal shouldn’t impact the slashing amount, but the ratio would now represent 2,5% of the new self-stake amount.
- This adjustment will emphasize validator performance, ensuring that validators maintain high-quality infrastructure for the community.
This proposal aims to encourage more participation in the BSC validator ecosystem while maintaining a secure and stable network by lowering the cost of entry and increasing penalties for poor performance and malicious actions. The proposed changes will foster a more diverse and robust validator community, benefiting all BSC users.