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update deposit requirement to 64 atom (#1250)
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changed following this proposal https://www.mintscan.io/cosmos/proposals/47

Co-authored-by: billy rennekamp <[email protected]>
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hxrts and okwme authored Feb 10, 2022
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10 changes: 5 additions & 5 deletions docs/governance/process.md
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Expand Up @@ -8,18 +8,18 @@ order: 2

### 1. Deposit Period

The deposit period lasts either 14 days or until the proposal deposit totals 512 ATOMs, whichever happens first.
The deposit period lasts either 14 days or until the proposal deposit totals 64 ATOMs, whichever happens first.

#### Deposits

Deposit amounts are at risk of being burned. Prior to a governance proposal entering the voting period (ie. for the proposal to be voted upon), there must be at least a minimum number of ATOMs deposited (512). Anyone may contribute to this deposit. Deposits of passed and failed proposals are returned to the contributors.
Deposit amounts are at risk of being burned. Prior to a governance proposal entering the voting period (ie. for the proposal to be voted upon), there must be at least a minimum number of ATOMs deposited (64). Anyone may contribute to this deposit. Deposits of passed and failed proposals are returned to the contributors.

In the past, different people have considered contributions amounts differently. There is some consensus that this should be a personal choice. There is also some consensus that this can be an opportunity for supporters to signal their support by adding to the deposit amount, so a proposer may choose to leave contribution room (ie. a deposit below 512 ATOMs) so that others may participate. It is important to remember that any contributed ATOMs are at risk of being burned.
In the past, different people have considered contributions amounts differently. There is some consensus that this should be a personal choice. There is also some consensus that this can be an opportunity for supporters to signal their support by adding to the deposit amount, so a proposer may choose to leave contribution room (ie. a deposit below 64 ATOMs) so that others may participate. It is important to remember that any contributed ATOMs are at risk of being burned.

#### Burned deposits

Deposits are burned when proposals:
1. **Expire** - deposits will be burned if the deposit period ends before reaching the minimum deposit (512 ATOM)
1. **Expire** - deposits will be burned if the deposit period ends before reaching the minimum deposit (64 ATOM)
2. **Fail** to reach quorum - deposits will be burned for proposals that do not reach quorum ie. 40% of all staked ATOM must vote
3. **Are vetoed** - deposits for proposals with 33.4% of voting power backing the 'NoWithVeto' option are also burned

Expand All @@ -42,7 +42,7 @@ Voting 'NoWithVeto' provides a mechanism for a minority group representing a _th

There are four criteria:

1. A minimum deposit of 512 ATOM is required for the proposal to enter the voting period
1. A minimum deposit of 64 ATOM is required for the proposal to enter the voting period
- anyone may contribute to this deposit
- the deposit must be reached within 14 days (this is the deposit period)
2. A minimum of 40% of the network's voting power (quorum) is required to participate to make the proposal valid
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