Gavin from Figment.
We’re proposing to make the voting period 72 hours. Currently voting lasts 48 hours.
Proposal: increase voting period to 72 hours (currently 48 hours)
Upside: more time for voters to evaluate & participate
Downside: takes longer to finalize decisions
Risk: less time to identify and slash malicious activity
We think that voters must have enough time to 1) be alerted to a new proposal, 2) discuss & evaluate the proposal, and then 3) form a position & vote on the proposal. Even 72 hours doesn’t seem long enough, but we need to make a trade-off.
Currently we need a governance proposal to slash an account that violates the protocol, and that has to be balanced with the unbonding period. Why? Because an entity could possibly violate the protocol and unbond their tokens before we notice and/or pass a proposal to slash them.
Since the unbonding period is seven (7) days, in the event of a protocol violation, this is what our window for enforcement would look like:
- ~3 days to detect the offence & launch the proposal
- then ~3 days for the vote
- 1 day for the enactment delay
Grateful for any questions/feedback!