18h ago
1/ @ChorusOne and @KamBenbrik aren't defending “governance integrity,” they’re maliciously misrepresenting facts for profit since their validator rewards will be cut in half if this vote passes.
Here’s why the inflation reduction proposal IS NOT a governance override 🧵
2d ago
The situation on @NEARProtocol:
- There was a governance proposal to reduce the inflation rate by 50%
- The proposal didn’t get enough votes from validators and failed because it didn’t reach the threshold
- The NEAR team still decided to implement this change in the next upgrade
- Now, if validators upgrade, they’re forced to accept this change in inflation even though the proposal initially failed due to a lack of votes!!
Governance is broken, @ChorusOne decided not to upgrade to prevent bad behaviors like this from happening.
4/ Now, validators have the option to upgrade and implement the inflation reduction.
It needs 80% of total stake to pass which real consensus, not an override.
5/ If it passes, I’m even more bullish on NEAR bc the protocol is overspending on security and lower inflation = less sell pressure and a more sustainable / investor-friendly ecosystem.
Opposing validators can leave or fork. Just like Bitcoin Cash or ETH Classic.
8.26K
45
The content on this page is provided by third parties. Unless otherwise stated, OKX TR is not the author of the cited article(s) and does not claim any copyright in the materials. The content is provided for informational purposes only and does not represent the views of OKX TR. It is not intended to be an endorsement of any kind and should not be considered investment advice or a solicitation to buy or sell digital assets. To the extent generative AI is utilized to provide summaries or other information, such AI generated content may be inaccurate or inconsistent. Please read the linked article for more details and information. OKX TR is not responsible for content hosted on third party sites. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.