The staking team requested a new proposal to increase the minimum bond and allow new nominators above the threshold to participate in the network’s security mechanism. As mentioned by the Staking team on [this message](https://matrix.to/#/!FdCojkeGzZLSEoiecf:web3.foundation/$YNsqfhHKXoRbW_QKvtG5EKn8HodUGFts6abJJdSAoVA?via=matrix.parity.io&via=matrix.org&via=corepaper.org), Polkadot currently has 22500 nominators and the configuration of the staking system prevents further nominators to join.

The team suggests to update the staking parameters: The proposal has the goal to increase the minimum bond to allow new nominators above the threshold to participate in the network’s security mechanism, and for less staked nominators to be chilled. **Note that after the latest runtime upgrade (9090), existing nominators can always update their preference at all conditions.**

The proposal the team suggested aims to change the staking parameters to allow more nominators with higher backing stake be able to join the staking system. The existing parameters as follows:

- Minimum validator bond: None
- Maximum validator count: `1200`
- Minimum nominator bond: `80` DOT
- Maximum nominator count: `22500`
- Chill threshold: 90%

The new proposed parameters aim to update one value:

- New minimum nominator bond: `120` DOTs

The team aims to increase the limit enough so that we won't need to do another tweak for at least a month. **Multiple tracks of optimization are ongoing by the development team**, and you can read more about them on this [issue](https://github.com/paritytech/substrate/issues/9511). Furthermore, a monthly progress report will be released [here](https://gist.github.com/kianenigma/aa835946455b9a3f167821b9d05ba376) to communicate the technical details. Please note that increasing the value of the parameter to **120 DOTs** will hopefully give the team another more time until the new threshold is reached and we have made progress on a more permanent solution. Please leave your comments and feedback on the proposal. Keep in mind these measure is **temporary**, and the overall goal is the stability and security of the network.

- Preimage [HERE](https://drive.google.com/file/d/10FRH_Hzs8kqwI_lfMZhC6bu6Dt0bQdCf/view?usp=sharing) - submitted.
- Hash: `0xb862a50c4e8541c013637e9766f3059af75218f0f9630dc8b6c85dc8f633a971`

Please vote at your convenience!

 Update the various staking limits this pallet.

 * `min_nominator_bond`: The minimum active bond needed to be a nominator.
 * `min_validator_bond`: The minimum active bond needed to be a validator.
 * `max_nominator_count`: The max number of users who can be a nominator at once.
   When set to `None`, no limit is enforced.
 * `max_validator_count`: The max number of users who can be a validator at once.
   When set to `None`, no limit is enforced.

 Origin must be Root to call this function.

 NOTE: Existing nominators and validators will not be affected by this update.
 to kick people under the new limits, `chill_other` should be called.

 - The staking team has requested a new proposal to increase the minimum bond to allow new nominators above the threshold to participate in the network’s security mechanism, and for less staked nominators to be chilled. The proposed new parameters are a minimum nominator bond of `120` DOTs;  multiple tracks of optimization are ongoing by the development team; and this measure is temporary.

Summary: 
- The staking team has suggested a new proposal to increase the minimum bond for nominators and allow more nominators with higher backing stake to join the staking system.
- The existing parameters to be updated are minimum nominator bond (currently `80` DOTs) and the proposed new parameters are a minimum nominator bond of `120` DOTs. 
- After the latest runtime upgrade (9090), existing nominators can always update their preference at all conditions. 
- Multiple tracks of optimization are ongoing by the development team and progress reports will be released. 
- This measure is temporary, and the overall goal is the stability and security of the network.

#34 Increasing nominators’ min bond on Polkadot

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