[Proposal] Increase Staking and Governance Rewards

I am considering introducing a proposal to increase staking and voting rewards. Two proposals were put to vote recently that did NOT meet Quorum. During that same period, price was rallying, and people who had been HODLing were selling into the rally. It’s my opinion that if people were better incentivized to support the network and participate in Governance, they would be more inclined to stick around.

Consider this, when a member creates a Poll, they have to deposit MIR. If the poll does not meet Quorum, they lose their deposit. What incentive do members have to stick around to make things better if we can’t even make Quorum during a rally? If we’re not making Quorum, then people need to be better incentivized to vote and participate in governance.

34.6% (128.1M) of total MIR were reserved for Staking and Governance rewards. By my math, MIR would only need to have 10% set aside for staking rewards, to last 5 years at 30%. They have 3.5x that in reserves. It makes sense that we should be better incentivized to participate, and maintain the security of the network. Mirror has been in a bear cycle for a long time, this would be the time to incentive members to stay.

I’m opening this for discussion before creating the proposal. I’m interested in making MIR into a winning Protocol. I would like to hear your feedback. Thank you.

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