In the spirit of continuous improvement and evolution of the BNB Chain ecosystem, particularly with the upcoming BC Fusion integration, a new governance proposal is being put forward for community review and feedback. This proposal is pivotal as it aims to enhance the governance framework, aligning with the BC Fusion’s objectives to streamline processes and foster a more robust and participatory ecosystem.
Overview of the Proposed Governance Changes:
As part of the BC Fusion initiative, which integrates governance functionalities directly onto the Binance Smart Chain (BSC), the following adjustments to the governance settings are proposed:
- Proposal Submission Limitation: To ensure a focused and efficient governance process, it is proposed that individuals with 200 or more BNB staked can make proposals, and will be limited to having one active or pending proposal at any given time. A new proposal can only be submitted if the individual’s previous proposal has been executed, cancelled, or expired. This change aims to streamline the decision-making process and ensure that each proposal is given the appropriate attention and deliberation by the community.
Staking Redelgation Mechanism Adjustment:
To align with the new governance model and facilitate a seamless transition, a proposal for modifying the staking redelegation process is also under consideration:
- Facilitated Redelgation Process: Recognizing the need for stakers to transition smoothly within the new governance framework, a reduction in the cross-chain redelegation cost to approximately $0.6 is proposed. This measure is designed to lower barriers for stakers to redelegate from the original validator on the Beacon Chain to a new validator on BSC, ensuring active and inclusive participation in the ecosystem’s governance and staking rewards.
Call for Community Engagement:
This proposal is now open for discussion, and the BNB Chain community is highly encouraged to participate in this pivotal governance model review. Your insights, feedback, and active engagement are essential in shaping a governance model that reflects our collective vision and values for the BNB Chain ecosystem.
How to Provide Feedback:
Community members interested in contributing to the discussion can do so through the following channels:
- Official BNB Chain Forums: Detailed discussions and feedback can be posted here, providing a platform for in-depth analysis and suggestions.
Following the feedback period, all contributions will be thoroughly reviewed, and necessary adjustments to the proposal will be made based on community input. The revised proposal will then undergo a community vote, empowering every member to directly influence the final decision.
The active participation of each community member is crucial for navigating this transition successfully.