Temperature Check: Increased minimum deposit of 1M AXL for any governance proposals for the Axelar gateway contracts

Project Name: Interop Labs

Description: Interop Labs is the initial developer of Axelar Network. The Interop Labs team is formed by global experts in distributed systems, cryptography and technology with backgrounds from top institutions like MIT, Google and Consensys.

Date: 04/12/2024

Contact Name: Marcin Pawel

Proposal Description:

Interop Labs is proposing an increased minimum deposit of 1M AXL for any governance proposals for the Axelar gateway contracts.

A gateway contract facilitates cross-chain contract calls and token transfers within the Axelar network, encompassing functions for sending tokens, calling contracts, and validating contract calls. This contract is governed through a decentralized mechanism on the Axelar network. The proposal aims to establish a 1M AXL threshold for initiating any governance proposals for the Axelar gateway contract.

For more information on Axelar Gateway Governance please visit: https://bright-ambert-2bd.notion.site/Axelar-Gateway-Governance-EXTERNAL-3242da44ef7a4b87a3e0da0b7737ff3f

Impact:

Raising the minimum deposit required for gateway governance proposals will significantly decrease spam and enhance security. By proposing a higher minimum deposit to initiate a governance action from Axelar governance to the EVM gateway governance contract, we aim to mitigate the risk of malicious proposals. This precaution ensures that any proposal is given due consideration and prevents bad actors from easily convincing validators to vote on harmful proposals quickly and inexpensively.

Deliverables, Milestones, & Timeline

The proposal will be submitted on-chain one week after the temperature check post.

Risks

The proposed initiative carries minimal risk, as a similar proposal has been previously submitted and successfully implemented without encountering any issues.

2 Likes

I’m in favor of the proposal as it helps to combat spam effectively.

We (LunaNova) are supportive of any changes which reduce the risk of trivial, mischievous or malicious proposals being processed and therefore support this initiative at this stage of the network. Our only slight concern is any risk over the long-term that we may be discouraging smaller, well intentioned, entitities from participating in governance and whether there are any actions that could mitigate this.

We (CryptoSailors validator) will vote for it. It will help avoid spam proposals.

In favour of this proposal because increasing the minimum deposit to 1M AXL reduces spam and enhances security in gateway governance, ensuring proposals are more carefully considered.

Note that this higher deposit requirement only applies to governance proposals made for upgrading/managing Axelar’s gateway smart contracts, which are critical for security. Regular governance proposals are unaffected, and continue to have a 2000 AXL deposit. Furthermore, a similar proposal can be made in the future to update this deposit threshold for gateway proposals if needed.

1 Like

voted in favour :+1: