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MITH CashMITH Cashby0x842F694A67184c00C9b31B9fb745A4c23784a9850x842F…a985

Decrease each period of seigniorage to 6 or 12 hours

Voting ended about 5 years agoSucceeded

Current state: Currently, each seigniorage occurs every 24 hours. Initially, 24 hours was set up as the interval between seigniorages to ensure the community / ecosystem has enough time to absorb the impact of each seigniorage.

Issue: 24 hours was necessary, especially at the start, when there were much more uncertainties, and the size of each seigniorage relative to the size of the community was significant. As time has passed, the community has grown to be more mature, and is better able to absorb each seigniorage and react faster. However, the time between seigniorages is still set at 24 and we believe this not to be the most effective period to expand the ecosystem and speed up the progress of development.

Proposal: Reduce each period of seigniorage to either 6 or 12 hours

Expected Result: Expansion and contraction phases will occur at a more suitable pace, and allow MITH Cash to outpace industry players to become the dominant algo stablecoin: Lord of the Stables, One Stable to Rule Them All

Potential issue: Lack of sleep for community members...

+++++

Option 1: Seigniorage interval set at 6 hours Option 2: Seigniorage interval set at 12 hours Option 3: Seigniorage interval set at 24 hours (i.e. no change)

Off-Chain Vote

Option 1
15.04K 60%
Option 2
10.01K 39.9%
Option 3
12.55 0.1%
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Timeline

Jan 13, 2021Proposal created
Jan 13, 2021Proposal vote started
Jan 14, 2021Proposal vote ended
Oct 26, 2023Proposal updated