This proposal is explained as suggested by Kian from the Staking team.

**NOTE**: this proposal is using the new terminology introduced in [the February newsletters](https://docs.google.com/document/d/1bisngPfte-P2vMuP_JrV6fIpNnd04uCWrqt4UbFklF8/edit#heading=h.kdyyexvr13fu), please refer to that for a recap.

This proposal aims to alter the limits on the nomination intention for Polkadot, namely lowering them since they are not strictly needed anymore.

As of release of runtime 9170, pallet-bags-list has been [fully enabled in Polkadot](https://docs.google.com/document/d/1bisngPfte-P2vMuP_JrV6fIpNnd04uCWrqt4UbFklF8/edit#heading=h.z30dvegsxvsi), and setting the intention to nominate should now be made possible for a larger audience. In essence, the number of intentions need no longer be bounded by 22,500. The bags-list will take care of picking up the top 22,500 nominations (those who become “electing”). Thus, we propose the following:

1. Increase the number of possible intentions to **50,000**. 

**NOTE**: that this number could be lifted altogether, but we suggest keeping an upper bound that’s dynamically controlled by the governance as an extra safety measure, at least for the time being.

2. Decrease the amount of stake needed to submit a nomination intention to **10 DOT**.

**NOTE**: Similarly, this number could also be lowered back to 1 DOTs, which is the existential deposit, but we suggest doing that as a next step within the next few months, and for now keep this small limit to prevent a massive sudden influx of intentions. 

Call design:

![](https://i.ibb.co/RczyGyY/Screenshot-2022-03-09-at-09-57-10.png)

Encoded call data: `0x071700e87648170000000000000000000000000000000000000000000000000000000150c3000001b0040000015a00000000`

**Urgency**: Ideally, this proposal should be enacted before the number of total nominators in Polkadot reaches 22,500 (the value for which at the time of this writing is 21,214). If it does, the ‘nominate’ transaction will become unavailable to all stakers. This proposal should have no negative effect on any stakers, as it will only relax the limits to submit for nomination intentions.

Link to discussion post: [HERE](https://polkadot.polkassembly.io/post/921). 

Schedule the currently externally-proposed majority-carries referendum to be tabled
immediately. If there is no externally-proposed referendum currently, or if there is one
but it is not a majority-carries referendum then it fails.

The dispatch of this call must be `FastTrackOrigin`.

- `proposal_hash`: The hash of the current external proposal.
- `voting_period`: The period that is allowed for voting on this proposal. Increased to
  `FastTrackVotingPeriod` if too low.
- `delay`: The number of block after voting has ended in approval and this should be
  enacted. This doesn't have a minimum amount.

Emits `Started`.

Weight: `O(1)`

Update the various staking configurations .

* `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.
* `chill_threshold`: The ratio of `max_nominator_count` or `max_validator_count` which
  should be filled in order for the `chill_other` transaction to work.
* `min_commission`: The minimum amount of commission that each validators must maintain.
  This is checked only upon calling `validate`. Existing validators are not affected.

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 proposal suggests changing the limits on nomination intentions for Polkadot.
- The number of possible intentions would increase to 50,000.
- The amount of stake needed to submit a nomination intention would decrease to 10 DOT.
- The proposal should be enacted before the number of nominators reaches 22,500.
- The proposal aims to make it easier for more people to participate in nominating.

#37 Polkadot Proposal: Lowering Nomination Intention Limits