Polkadot passes Referendum 1966: only 500 validators from Tuesday

On Sunday, Polkadot's Referendum 1966 was overwhelmingly approved, with 99.92% of votes in favor, resulting in a reduction of the active validator set from 600 to 500. The decision, endorsed by 48.14 million votes, reflects a significant increase in support over the past few days. This change will be executed on the blockchain on Tuesday, affecting how rewards are distributed to validators and altering the parameters controlling validator functions. The new framework applies to upcoming elections, as Polkadot continues to innovate in its governance processes. The price of DOT has experienced fluctuations, trading lower than previous weeks, highlighting the economic implications of these governance decisions. Stakeholders are urged to adjust their nominations accordingly before the enforcement of these changes.

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