[Phase-2][Signalling] UIP-3: Update UBI Governor Deposit Cost

UIP: 3
title: Update UBI Governor Deposit Cost
author: @santisiri
status: Phase 2
created: 2022-06-15
conflicts with: None
languages: EN

Simple Summary

The Kleros Governor contract managing the funds of the Universal Basic Income DAO currently has a deposit requirement of 13.0005 ETH. We propose to reduce this deposit requirement in alignment to a Kleros KIP 43 proposal to 4.1 ETH

Abstract

The target for this parameter is supposed to be more on the order of 10k usd originally, so it should be brought down somewhat to account for increases in ETH prices since the last time the parameter was updated. The task of reviewing governor updates is technical, and extremely sensitive, so the bounty for challengers needs to be quite high. Nonethless, it doesn't need to be as high as 13 ETH today.

Kleros has proposed on KIP-43 to reduce the governor deposit fees to 4.1 ETH and we recommend following the same path for UBI DAO. This is also in accordance to HIP-30 which has effectively reduced the cost of using its own Governor from 13 ETH to 4.1 ETH.

Implementation

Update the UBI DAO Kleros Governor that can be found on 0x7510c77163683448b8Dc8fe9e019d9482Be1ed2b with a new submissionBaseDeposit of 4.1 ETH.