Tezos Granada upgrade proposal in danger of not making quorum
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Self-amending blockchain Tezos is running into an issue with — of all things — on-chain governance.
Its seventh protocol upgrade, nicknamed Grenada, would bring it faster blocks, less transaction (gas) fees and decentralised “liquidity baking” between Tezos and Bitcoin.
But while 100 per cent of those voting have either voted “yes” or “pass” on the proposal, Granada is struggling to gain a quorum.
With just four days left in the 15 day voting period, only 49.3 per cent of the Tezos rolls have participated. At least 53.43 per cent is needed for a quorum, under the Tezos rules.
On social media, people were begging “bakers” (node validators) to cast votes.
— Jewel.tez 🌮 ꜩ (@Jewelinker) July 18, 2021
Part of the issue seemed to be that both Coinbase and Binance, the huge exchanges that also operate as bakers, had not cast votes.
Coinbase controls 13.4 per cent of the Tezos rolls and Binance, 7.5 per cent, making them by far the biggest bakers.