LIP-4 Remove snapshot quorum for LIPs

Summary

This is a proposal to remove snapshot quorum (currently set at 10%) and replace it with a 7 day voting period.

Motivation

Achieving a 10% quorum on LIPs is a daunting task. While quorum has mostly been met for important votes, rallying voters can be time consuming. At this point in the Loot Project, we should let engaged community members decide the outcome of votes, and worry less about reaching a certain threshold. Increasing the minimum vote time (days that the vote is open) to 7 days achieves the same goal as a quorum in preventing gaming of the voting system, without forcing undecided, uninterested, or busy community members to vote.

Specifications

Since snapshot quorum rules are norms, no technical adjustments are needed to implement this change. This proposal applies only to snapshot quorum and all other LIP rules follow LIP-1:

https://loot-talk.com/t/lip-1-loot-improvement-proposals-establish-framework-and-guidelines/828

LIPs must still go through the community feedback phase, which should prevent any undiscussed proposals from being implemented.