Prop 40: Increase governance proposal deposit from 10 SOMM to 5000 SOMM

In the Cosmos Ecosystem, scammers have been using governance proposals (typically with fake airdrop sites) to steal user seed phrase and tokens. Sommelier has been lucky to not be impacted by scam proposals. But the good days will not last long, since the project is well on its track to gain prominence.

Currently, Sommelier’s proposal deposit is 10 SOMM (about $2). This is too low. Here are some benchmarks: Juno: 1000 JUNO (about $1000), Osmosis: 1600 OSMO (about $1000), CosmosHub: 250 ATOM (about $2500).

This proposal proposes to raise Sommelier’s governance proposal deposit from 10 SOMM ($2) to 5000 SOMM ($1000).

https://community.sommelier.finance/t/proposal-to-raise-governance-proposal-deposit-from-10-somm-to-5000-somm/1089