[PASSED] Increase voting period to 72 hours

Hi :wave:
Gavin from Figment.

We’re proposing to make the voting period 72 hours. Currently voting lasts 48 hours.

Summary

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

Explanation

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!

1 Like

Awesome idea! Appreciate you taking the initiative to give voters more time to react to proposals moving forward.

While two days was a good starting point to move quickly, we agree that extending the voting period to three days is more sensible for those node operators and delegators not regularly checking the governance dashboard.

We’re making an active effort to notify all operators of new governance proposals, but recognize that there are participants who may miss an update with a 48 hour voting window. The change to 72 hours will be a good test case to see if participation increases as a result of having more time to vote.

Definitely in favor of this moving this proposal forward to an on-chain vote!

3 Likes

Cant wait till I hodl enough to vote! Good luck, full support