{"@context":{"CIP100":"https://github.com/cardano-foundation/CIPs/blob/master/CIP-0100/README.md#","hashAlgorithm":"CIP100:hashAlgorithm","body":{"@id":"CIP100:body","@context":{"comment":"CIP100:comment"}}},"hashAlgorithm":"blake2b-256","body":{"comment":"A minimum pool fee makes it costly to run loss-making pools just to gather stake, and that still matters. But block rewards are now a fraction of what they were when 170 ada was set, so the fee takes a large share of the rewards of a pool making one or two blocks an epoch. Its delegators pay for that however well the pool performs.\n\nI am voting Yes because the problem is clear and the fix is simple. Nobody has to lower their fee. The Parameter Committee reached consensus on this value, and Input Output Research separately concludes that a high floor is more likely to reward large operators splitting stake than to deter it. The downside is confined to how existing rewards are shared; block production and security are untouched.\n\nThe benefit is modest. The ledger shows the 2023 reduction did not change how most stake is priced, and the yield effect is material only for a narrow band of small pools. I am not claiming this alone improves decentralisation. A No, though, keeps a floor that now works against small pools, with nothing better until a minimum margin comes in by hard fork."}}