Temperature Check - Timelock Shortening

Temperature Check
#1

Hey there,

We all know the importance of timelocks when integrating a proposed governance update. The possibility to put the implementation process on hold comes in handy when the update disrupts the work of smart contracts.

Currently, the timelock is set for 5 days (120 hours), which is rather excessive. For example, our first proposal (Liquidity Mining 2) has recently been voted on. However, we had to wait for 5 days since its approval before it came into effect.

I believe that we should shorten the required time to 2 days (48 hours). This is enough to roll back the implementation in case of necessity but will speed up the introduction of the desired update.

Interested to hear any thoughts regarding the issue. Would you offer a different timelock period?

5 Likes
#2

Sounds good, was hoping to get my Fee Reduction fast :pensive: but guess will have to wait. Let’s improve this and get other proposals implemented early

1 Like
#3

Hear me out, i guess it’ll be cool but it can hurt the community. We have Timelock so that everyone can get their money out if something isn’t good with the proposal. Someone simply can forget about that in 2 days. We can make it 3 days at least.

1 Like
#4

I’m sorry, but if you into governance than you have to check process everyday or ,eventually, you will lose some money. 48 hours are enough to make sure your assets are safe.

1 Like
#5

Thank you guys for joining the discussion. @powmyles I understand your concern, but as was said previously you just have to pay attention to what’s going on in the governance proccess. But overall I think this would add more good then bad to the governance.

1 Like