The New Dawn—Proposal to Increase The Max Multiplier

As the Covalent Network expands, it is quickly running out of delegation room for CQT token holders relative to the time horizon needed to onboard more operators—meaning the community could quickly become blocked from delegating their CQT to secure the network if not addressed now. The Covalent Network only has 2.12% of room left till reaching the maximum delegation room.

The Covalent Foundation proposes to increase the maximum delegation room for CQT Holders, increasing the Block Specimen Producer Operator Staking Max Multiplier from 27X to 34X targeting roughly ~20% from the currently 13.8% currently staked.