On this symbolic day Everstake Cosmos validator voted ‘No’ on the 3rd governance proposal of Cosmos Hub.

Overall Position on Proposal #3

We fully share community’s opinion and support the enablement of ATOM transfers.

However, we believe that the second part of the proposal introducing 24/48 –hour expedited governance rule is risky since it provides very little time to review and consider any governance proposal. Moreover, proposing such drastic changes so soon after the mainnet launch seems too hasty.

That being said, if the proposal goes through, we will follow the decision of the majority.

Rationale

Expedited governance rule gives validators only 24/48 hours to read, consider and make a decision on proposal. Governance issues are not the only responsibility of validators yet they have paramount importance for the future of the hub. Potential implications of this part of the proposal in the worst-case scenario may lead to gruesome consequences such as validator’s downtime and subsequent slashing of the assets.

General Thoughts

Bundled nature of proposal seems odd to us. Say, you support one thing and disagree with the other. So, you have to decide whether you agree that the positive effects of part 1 outweigh possible negative implications of part 2. In the future we suggest having atomic proposals that focus on one change at a time.