Summary
This proposal aims to streamline the governance process of Astroport by reducing the timeframe for proposals. Specifically, it suggests shortening the voting period from the current 4 days to 3 days and reducing the post-voting cooldown period from 2 days to 1 day. These changes are intended to enhance the efficiency and responsiveness of the governance process.
The reduces the time from the proposal going on-chain to execution from 6 days to 4 days
Abstract
The current governance timeframe on Astroport, which includes a 4-day voting period and a 2-day post-voting cooldown period, has been identified as a potential bottleneck in the decision-making process. As the DeFi landscape is rapidly evolving, a more agile governance mechanism is necessary to keep pace with the changing environment and community needs. This proposal outlines the rationale and execution plan for adjusting the governance timeframe to make it more efficient and responsive.
Proposal Details
- Reducing the Voting Period:
- The current 4-day (57600 blocks) voting period will be reduced to 3 days (43200 blocks).
- This reduction aims to speed up the decision-making process, allowing Astroport to react more quickly to market changes and community feedback.
- Adequate measures will be taken to ensure that the community remains well-informed and engaged, despite the shorter voting window.
- Shortening the Post-Voting Cooldown Period:
- The current 2-day (28800 blocks) post-voting cooldown period will be reduced to ~24 hours (14400 blocks, the minimum allowed).
- This change is designed to minimise idle time between the conclusion of voting and the implementation of proposals, thereby streamlining the governance process.
- Historically the cooldown period was to prepare for the execution which might include ensuring IBC channels are working and funds have been transferred when needed. The shortened cooldown period will still provide sufficient time for final checks and preparations before enacting approved proposals as we’ve never needed such a long period.
Conclusion
The reduced governance timeframe will enable quicker decisions and implementations, keeping the platform aligned with market dynamics and community expectations.
Executable message
[
{
"wasm": {
"execute": {
"contract_addr": "terra1k9j8rcyk87v5jvfla2m9wp200azegjz0eshl7n2pwv852a7ssceqsnn7pq",
"msg": "eyJ1cGRhdGVfY29uZmlnIjogeyJwcm9wb3NhbF92b3RpbmdfcGVyaW9kIjogNDMyMDAsInByb3Bvc2FsX2VmZmVjdGl2ZV9kZWxheSI6IDE0NDAwfX0=",
"funds": []
}
}
}
]
Decode message
{
"update_config": {
"proposal_voting_period": 43200,
"proposal_effective_delay": 14400
}
}
Copyright
Copyright and related rights waived via CC0.
Update: Corrected ARC number
Update 2: Updated minimum delay period and added messages