A recent Snapshot vote titled PROPOSAL of BURNING was posted without going through the standard proposal process (Phases 1–2) and without following the Snapshot Phase 3 voting guidelines, keeping the Snapshot open for 3 days instead of the required 5. The intent and initiative behind sharing ideas are always appreciated, but following the full proposal flow helps ensure fair community input and smoother governance decisions.
The author of the Snapshot vote is encouraged to post the proposal on the forum for Community discussions to gather feedback from the community. Community discussions and feedback, and are encouraged throughout all phases.
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This is already the second hostile proposal in a short space of time. We need to reconsider the parameters for creating and voting on proposals. If I understand correctly, to create a new proposal you need only 10k GMX and to reach the quorum 50k voting power is enough. The latter is extremely concerning because the top 25 holders can pass proposals single-handedly.
Considering the price of the GMX token has collapsed and acquiring the aforementioned amounts does not require much capital, I suggest raising these requirements. For a new proposal, it should be increased to at least 20-30k GMX, and for the quorum it should be increased to 100-150k votes.
Thanks for raising this the concern it is valid, especially given the recent proposals. The current proposal and quorum thresholds may need to be revisited. The existing parameters will be reviewed, potential adjustments assessed, and the changes required to implement updated thresholds will be evaluated.
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