Currently, all polls and poll types listed on the Mirror Protocol Governance (Mirror) are all bounds to the same voting duration (currently 7 days). This is mostly optimal and have been shown to work well since the protocol’s inception.
However, in working on moving forward with the registration poll of mHOOD as Mirror’s first pre-IPO assets (whitelist proposal ID 110: Mirror), we have come to reconsider having a uniform voting duration across all poll types.
For context, A S-1/A filed by a company looking to go public typically contains information related to the initial listing price of the stocks, which is necessary in determining and reasonable minting price of the pre-IPO asset on the platform.
Depending on the company, the time difference between the S-1/A filing and the IPO date might greatly varies, with some being quite short. In the case of Robinhood, the company publicize their document filing on the19th of July (Robinhood seeks up to $35 bln valuation in mega U.S. IPO | Reuters) and is expected to start trading on the 29th of this month (Robinhood targets July 29 debut as a public company - CNN).
Given the current 7 day registration poll, this would leave only 3 days after the poll concludes for the pre-IPO assets to be listed, minted, and traded, which is too short in my opinion. As other IPOs in the future might have similarly short timespans, I suggest that the community votes to shorten the voting period for Pre-IPO asset parameters registration polls.
Where I’m looking to get feedback and ideas from the community on are:
- Their opinion in shortening the voting period of the poll type
- Any recommendations or suggestions on what a reasonable voting period would be
Finally, a few things of note:
- Band will be preparing a price feed for HOOD so that the asset can be listed soon after the IPO listing date
- The voting period for all other poll types will not be affected and will remain at 7 days