VNP-22 - Change minimum voting and enactment on market changes to 24h

🗳️ Governance Proposals Network Parameter Proposals
1

VNP-22 - Change minimum voting and enactment on market changes to 24h
Change governance.proposal.updateMarket.minClose and governance.proposal.updateMarket.minEnact to 24h

The current and launching perpetual markets are going through a period of adjustment and optimization in search for optimal parameters around funding but also SLA and other market options. It would be beneficial if these changes can be made more quickly while not losing a reasonable period of scrutiny. While there is a lot of attention focused on these markets 24h should be sufficient.

Summary:
Change
governance.proposal.updateMarket.minClose and governance.proposal.updateMarket.minEnact from 72h to 24h

Allow quicker adjustments to markets while allowing sufficient period for scrutiny.

Full Proposal JSON:

{
    "rationale": {
      "title": "VNP-022a Change governance.proposal.updateMarket.minClose to 24h",
      "description": "Change `governance.proposal.updateMarket.minClose` from `72h` to `24h` to allow quicker adjustments to markets while allowing sufficient period for scrutiny. Discussed in the [Vega Community Forum](https://community.vega.xyz/t/vnp-22-change-minimum-voting-and-enactment-on-market-changes-to-24h/4396)"
    },
    "terms": {
      "updateNetworkParameter": {
        "changes": {
          "key": "governance.proposal.updateMarket.minClose",
          "value": "24h"
        }
      },
      "closingTimestamp": 1701684000,
      "enactmentTimestamp": 1701684000
    }
  }

and

{
    "rationale": {
      "title": "VNP-022b Change governance.proposal.updateMarket.minEnact to 24h",
      "description": "Change `governance.proposal.updateMarket.minEnact` from `72h` to `24h` to allow quicker adjustments to markets while allowing sufficient period for scrutiny. Discussed in the [Vega Community Forum](https://community.vega.xyz/t/vnp-22-change-minimum-voting-and-enactment-on-market-changes-to-24h/4396)"
    },
    "terms": {
      "updateNetworkParameter": {
        "changes": {
          "key": "governance.proposal.updateMarket.minEnact",
          "value": "24h"
        }
      },
      "closingTimestamp": 1701684000,
      "enactmentTimestamp": 1701684000
    }
  }
2 Likes
2

Further I suggest we also do the same with market creation:

i.e. set governance.proposal.market.minClose to 24h and governance.proposal.market.minEnact to 24h.

{
    "rationale": {
      "title": "VNP-022c Change governance.proposal.market.minClose to 24h",
      "description": "Change `governance.proposal.market.minClose` from `72h` to `24h` to allow quicker creation of markets while allowing sufficient period for scrutiny. Discussed in the [Vega Community Forum](https://community.vega.xyz/t/vnp-22-change-minimum-voting-and-enactment-on-market-changes-to-24h/4396)"
    },
    "terms": {
      "updateNetworkParameter": {
        "changes": {
          "key": "governance.proposal.market.minClose",
          "value": "24h"
        }
      },
      "closingTimestamp": 1701684000,
      "enactmentTimestamp": 1701684000
    }
  }

and

{
    "rationale": {
      "title": "VNP-022d Change governance.proposal.market.minEnact to 24h",
      "description": "Change `governance.proposal.market.minEnact` from `72h` to `24h` to allow quicker creation of markets while allowing sufficient period for scrutiny. Discussed in the [Vega Community Forum](https://community.vega.xyz/t/vnp-22-change-minimum-voting-and-enactment-on-market-changes-to-24h/4396)"
    },
    "terms": {
      "updateNetworkParameter": {
        "changes": {
          "key": "governance.proposal.market.minEnact",
          "value": "24h"
        }
      },
      "closingTimestamp": 1701684000,
      "enactmentTimestamp": 1701684000
    }
  }
2 Likes