Motivation

The cool down period for staking SX was changed through a SX Governance proposal from 14 days to 60 days (91% YES, 9% NO). The implementation was done within the 2-day implementation window based on the governance parameters, which state that all governance proposals must be implemented within 2-days of a vote passing.

The community seems to be in agreement that in this case the 2-day rule has lead to an extremely unfair outcome in which anyone that unstaked SX before the change is now subject to a 60-day cool down period (minus the time they've been unstaked). This means that someone that only had 1 day left before they could claim their SX, now had a 47-day cool down period (60 days minus 13 days).

Many projects have year-long staking periods, such as Curve for example (4 year vesting period on staking rewards). SX staking rewards are meant to reward long-term SX holders that participate in governance; changing the staking cool down period to 60 days helps to further align that.

However, it is fundamentally important that governance changes lead to fair outcomes that everyone in the community can support irregardless of how they voted on any one specific proposal. In this case, the 2-day implementation window led to an unfair outcome. This proposal rectifies this while still respecting the outcome of the original vote.

The Solution

Given that the implementation of this rule has retroactively impacted people that unstaked before the vote, the simple solution is to revert the cool down period back to 14-days temporarily so that anyone that unstaked before the governance proposal passed would still be able to claim their unstaked SX within a reasonable window of time (e.g. 24 hours).

The vote to change to 60-days was passed on June 19th at 1am EST. Adding 14 days to that date, would mean changing the cool down period back to 14 days until July 3rd at 1am EST. To make sure people have some time to claim their SX, I propose adding an additional 24-hour grace period to that date. After that time (i.e. July 4th at 1am EST) the staking cool down period will be permanently changed back to 60-days.

This is slightly complex so I will provide an example. If you had unstaked SX on June 16th at 1pm EST, then originally you would have been able to claim your SX on June 30th 1pm EST. With the 60 day cool down period your date for claiming SX would have been changed to August 15th. Now with this proposal, you would now be able to claim your SX once again anytime from June 30th at 1pm EST until July 4th at 1am EST (i.e. the end of the grace period).

The end result is that anyone that unstaked their SX before the passage of the June 19th proposal at 1am now has adequate time to claim their unstaked SX before the 60 day cool down period is re-instated. Keep in mind that anyone that unstaked their SX but didn't/wasn't able to claim their SX before that July 4th 1am date would now be subject to the new 60-day cool down period. It's therefore important that anyone that unstaked SX before June 19th at 1am EST that wants to claim their SX does so before the July 4th 1am grace period cut-off.