We have been discussing as a team the implementation of the bond.
We are supportive of moving towards a 5% bond and the burn mechanisms proposed/approved.
We have a few thoughts we’d like to get feedback on from fellow P-Reps.
- The current affordability of the bond for Main P-Reps and how this plays out when the bond is enforced.
- P-Reps are currently empowered to own the infrastructure but with ICONv2 only recently released, P-Reps are still too reliant on iconloop for software bugs (our node was recently down for 7 days waiting for iconloop - with a bond in place this would have resulted in a 80,000 ICX burn and we were not empowered to resolve the issue ourselves).
We’d like to see a progressive move towards the implementation of the bond.
As an example, wait till we have a stable network for at least 3 months, then implement a progressive bond (e.g. 1% every 3 months)
This would give P-Reps time to be comfortable with the risk, stability of the network and empowered to up-skill where required.
We’d like to hear from other P-Reps on their views if they’re shared or alternate.