Good morning :)

This referenda seeks to increase the minimum commission from 3.0% to 8.5% and keeps all other staking configurations unchanged.  It is being proposed to foster a sustainable environment for all validators in light of reduced on chain returns as well as present market conditions.  

Appreciating that there was no forward discussion I anticipate there will be emphatic responses.  To aid with your decision making I've also included some supporting data for your consideration.

**Effects on validator earnings**

A validator operating at 3% commission can stand to earn (485.2/1000)* 4 * 30 * 0.03 = 1.75 KSM/month, this equates to ~70 USD/mth.  

The proposed configuration allows validators to earn (485.2/1000)* 4 * 30 * 0.085 = 4.94 KSM/mth which equates to ~ 200 USD/mth

**Effects on nominators**

Assuming a total stake of 6600 KSM, at 3% commission a nominator earns ~10.42% APY whereas at 8.5% commission a nominator* would earn ~9.83% APY, a 0.59% difference.

**Validator commission distribution**

Three hundred and eight (308) potential validators would be affected by the change to varying degrees.

- 0.00% - 13 [Chilled stashed]
- 3.00% - 234 - [+5.5%]
- 3.14% - 1 - [+5.36%]
- 4.00% - 6 - [+4.5%]
- 4.20% - 1 - [+4.3%]
- 5.00% - 28 - [+3.5%]
- 5.60% - 1 - [+2.9%]
- 6.00% - 4 - [+2.5%]
- 7.00% - 1 - [+1.5%]
- 8.00% - 19 - [+0.5%]
- 9.00% - 1
- 10.00% - 122
- 13.00% - 1
- 15.00% - 61
- 20.00% - 4
- 50.00% - 10
- 100.00% - 493


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 referendum is proposing to increase the minimum commission from 3.0% to 8.5% for validators.
- This change is being suggested to help validators earn more money in the current market conditions.
- With the current commission, a validator can earn around $70 per month, but with the proposed commission, they can earn around $200 per month.
- Nominators, who stake their KSM, would earn slightly less with the proposed commission, about 0.59% less.
- There are 308 validators who would be affected by this change, with different commission rates.

#238 YOLO - Setting the Minimum Commission to 8.5%