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PICKLEPICKLEby0xeb8eFA8CAD41e89986aEF7E896A06fB2f1f7e9320xeb8e…e932

[PIP-6] Reduce Timelock Delay

Voting ended over 5 years agoSucceeded

A proposal by Larry the Cucumber, BigBrainBriner, and 0xPenguin

Since the protocol launched last week, we've had to move fast while trying to maintain transparency and a clear line of communication with the community. In doing so, we were able to deliver features that the community wanted but we also encountered a lot of friction dealing with the Timelock transactions.

What

This proposal seeks to ask if it would be in the community's interest to reduce the Timelock from 48 hours (as it currently stands) to 24 hours (or even less) so that we, the devs, can deliver on features faster.

Example

Participants in PickleJar 0 currently do not earn any PICKLEs, but only a few hours after its launch, there was community consensus that we should reward them with PICKLEs. This change was queued in the Timelock but has yet to be implemented as we continue to wait for the 48 hour Timelock to be over.

The same can be said for the recent UNI-based pJars (i.e. pJar 0.69). These allow people to earn UNI, but we also want to reward people for using these pJars by giving them PICKLEs as well. This will also take another 48 hours before PICKLE rewards can be implemented.

Caveat

The team realizes that this is asking for a lot of trust on behalf of the community. While the team would like to speed up the pace of development and shipping, we also recognize that our reputation and the community's trust in us is of the utmost importance. Therefore, we will respect (and be happy with) whatever the community decides is the best course of action.

Off-Chain Vote

Change to 12 hour timelock
27.61 5.2%
Change to 24 hour timelock
385.96 73%
Change to 36 hour timelock
35.64 6.7%
Do nothing (keep 48 hour timelock)
79.8 15.1%
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Timeline

Sep 18, 2020Proposal created
Sep 18, 2020Proposal vote started
Sep 19, 2020Proposal vote ended
Jan 23, 2024Proposal updated