VNP-21 Change governance parameters

🗳️ Governance Proposals Network Parameter Proposals
1

VNP-021 Change governance parameters

It is believed that the minimum voting period of 7 days currently set in the network is too long.

Usually, before a proposal is uploaded to the on-chain, the community does a sense check, and it usually takes about 10 days from the time of the sense check to the end of voting.

I hope that the community will move faster to find market fit during the alpha mainnet phase.

I want to change the parameters as follows:

Parameter Current Val. Proposed Val.
governance.proposal.market.minClose 7d 4d
governance.proposal.market.minEnact 7d 4d
governance.proposal.market.requiredParticipation 1.0% 1.0%

What do you guys think?

{
  "rationale": {
    "title": "VNP-021 Change governance.proposal.updateNetParam.minEnact",
    "description": ""
  },
  "terms": {
    "updateNetworkParameter": {
      "changes": {
        "key": "governance.proposal.updateNetParam.minEnact",
        "value": "96h"
      }
    },
    "closingTimestamp": 1699869600,
    "enactmentTimestamp": 1700474400
  }
}
2

There is a tension between the requiredParticipation and the minimum voting period in the sense that the lower participation the longer voting period is probably required.

The reason is that if there is a proposal that would not be good vega token holders have time to see the proposal, think about it and potentially vote against it.

All that said I think perhaps going from 7d to perhaps 5d may be ok(*).

(*) But think like an attacker: if you want to mess with things you will propose your change at the time when it’s least likely to receive scrutiny. Let’s say late on 22nd December (Friday) with Christmas day on 25th, Boxing day on 26th it may only be Wednesday 27th when people will look properly.