[Proposal] Speed-up Proposal Implementations

The following proposal makes a rough outline for the change of a Governance Parameter.

Proposal

  • Type: Modify Governance Parameters
  • Parameter to be changed: Effective Delay
  • Current parameter value: 100800 blocks (roughly 1 week)
  • New parameter value: 13000 blocks (roughly 1 day)

Description
As shortly described here, the Effective Delay parameter is the length of the delay on the protocol before any changes are full implemented in the protocol after a proposal has passed. We propose these changes in order to shorten the time required for a change to be completely rolled out due to the time sensitive nature of many proposals (ex. whitelisting). The original parameter of around 1 week was set conservatively at the launch of the protocol as a safety measure as well as a buffer to give time to liaise with necessary external partners (such as Band for whitelisting). However, the process has in reality gone much quicker than expected, so we propose a reduction in the delay period.

Example
Taking the whitelisting process as an example, a new mAsset whitelisting currently requires two polls to be passed (Whitelist a new mAsset and Register whitelist parameters polls), each which currently require roughly 7 days time (varies depending on block speed). In addition to this, the current Effective Delay period is also roughly 7 days. Then in total, whitelisting a new asset would take roughly 21 days, which is (extremely) slow. :upside_down_face: Given that this proposal passes, the total time would be shortened to around 15 days, effectively shortening this process by ~30%.

Let me know your thoughts :smiley:

P.S. I will put a proposal up in the next day or so.
P.P.S Proposal is now live here :newspaper:

10 Likes

It’s sounds good. When will it be applied? Do we have to vote again?

1 Like

Sounds good, we need to be able to react more quickly to market news, announcements, etc.

1 Like

Ya. Totally agreed to shorten the whole process.

1 Like

Yes. Governance needs to be sped up as of right now…

I would support that proposal.

Proposal is now live for vote here

1 Like

100/100

Please make it happen @Sihyeok

Thank you for making such a nice proposal!

Thank you for your input. The proposal is fundamentally solving an existing issue, however in my opinion is my be too sudden to impose a seven-fold reduction in listing. While i also agree that listing time should be improved, perhaps a more subtle tweak would have a better shot at being implemented. In my view it is almost redundant to seek approval twice on the same listing process and weigh the two equally. Perhaps if we reduce the original Whitelisting process to 5 days, allowing everyone the time to evaluate the proposal and debate its pros and cons without being on a clock, while the follow up Whitelist parameter registrations can be expedited in 1 day as a formality.

1 Like

I vied for the proposal. Thanks @Sihyeok .

i second this idea…maybe there should be an urgency for listing some mAsset that trend because of news…e.g Gamestop

This is great! Is this proposal listed? Can I vote for it