However, I concede a few fail-safes will need to be put into place. For example, if there's less than 1% of MN voting on the proposal fee then the price automatically reverts to 5 dash (in homage to the original value).
Corrrect...the minimum participation percentage is very important.
This is where the triple vote <number, selection_process, minimum_participation_percentage> stands.
Again your 1% minimum participation is a hardcoded number.
So it should be voted as a number in a triple vote system, and decided by the same selection process that is used in order to select the number (or maybe by another selection process, then comes the quadraple vote)