Set validator minimum commission rate to 5%
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Description
This proposal certificates that Validators and KAVA community agree on setting a minimum commission rate of 5% \n\nTimes have been difficult for validators as token value has gone down and retail and institutional clients have decided to unstake. We think that having a uniform minimum commission can help validators get the right compensation for their work.\n\nOther benefits around having a min. commission rate is that validators will need to compete on value creation for delegators, instead of attracting them due to low or 0% commission rate. Delegators will be able to delegate among various validators and help decentralize the network.\n\nHere are other examples of networks that have set a minimum commission rate for validators: Umee, Desmos, Juno, Osmosis, Chihuahua.\n\nIf the proposal passes, the KAVA blockchain needs to be updated so that the fee of all validators lower than 5% can be changed automatically.\n\nVote Yes if you support this proposal\n\nVote No if you do not support this proposal
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