Proposal Result: SUCCESS
Proposer: ICON Foundation
Since the inception of Delegated Proof of Contribution, the goal of IISS has always been to incentivize the behaviors we wanted to see: Active involvement in governance, rewarding those that contribute most to the network, and giving people another reason to buy/hold ICX.
While there have been some success stories with the current IISS design, ultimately there is always room for improvement. One of the most exciting features of the ICON Public blockchain is its ability to remain flexible, with clearly defined governance rules from the start to prevent contentious chain forks.
Issues that have become apparent include vote buying attempts, voter apathy/stagnancy, excessive competition leading to emotionally charged infighting and instability in the social media communities, excessive advertising/self-promotion in the public channels, a lack of clear incentives to collaborate vs compete, and a lack of direct rewards for direct contributions. We believe the adjustments mentioned in this proposal will significantly mitigate the negative impact of the aforementioned issues.
Such adjustments include a 5% minimum bond requirement to be posted by all P-Reps, the creation of the Contribution Proposal Fund, the removal of the B1 block production reward, an allocation to the Contribution Proposal fund from all P-Reps, slashing penalties for a lack of active on-chain governance, and a feature to allow P-Reps the option to stop additional delegation.