Dynamic Registration Fee for P-Reps

Discussed at ICON P-Rep Weekly Meeting #1

Teams agreed that the node registration fee should not be fixed at 2,000 ICX indefinitely.

Some ideas that were presented in the meeting…

  • Peg registration fee to a fixed USD value.
  • Peg registration fee to a value derived from I-Rep.
  • Create another governance variable for the registration fee.
  • ICONation suggested a solution that incorporates the recently discussed P-Rep bond.
  • Setting an upper USD ceiling for registration fee.
  • We should prioritize this in the near team, as it is a fairly easy thing to agree on. From ICX’s recent price move, it is ~4x more expensive to register a team than a few months ago. People come from all different backgrounds, and the fee to register a node should not be a limiting factor.