Proposal to Shorten Snapshot Voting Period

**Note this is an updated version of the Proposal to Shorten Snapshot Voting Period. The original post is still available below.

Proposal to Shorten Snapshot Voting Period

Basic Summary

This proposal aims to decrease the snapshot voting period from 72 hours to 48 hours. Additionally, this proposal adds that if “For" quorum for a snapshot proposal is reached, prior to the 48 hour period reaching completion, but no earlier than 24 hours after submission, the proposal can move to on-chain voting period.

Abstract

Snapshot voting period is currently 72 hours, while on-chain voting period is 48 hours. Reducing the snapshot voting period to 48 hours would reduce the total time needed for a proposal to be accepted by 24 hours. Additionally, any snapshot proposal that reaches “For” quorum within 48 hours, but not prior to 24 hours, would have sufficient support to continue to the on-chain voting period. These two changes allow for increased governance efficiency by decreasing snapshot voting period by 24 hours for all proposals and an additional 24 hours for noncontroversial proposals that quickly receive sufficient support from the community.

Note: If a proposal is sufficiently complex or controversial, the full 48 hour or longer snapshot voting period may be necessary. This proposal will allow a reduction in time to production for simple proposals with strong support.

Motivation

This proposal is motivated by a need to optimize the governance process.

Specifications

Simple parameter tweak of snapshot.


**Original proposal

Proposal to Shorten Snapshot Voting Period

Basic Summary
This proposal aims to decrease snapshot voting period from 72 hours to 48 hours.

Abstract
Snapshot voting period is currently 72 hours, while on-chain voting period is 48 hours. Reducing the snapshot voting period to 48 hours would reduce the total time needed for a proposal to be accepted by 24 hours increasing governance efficiency. Any reduction beyond 48 hours at this stage would not allow sufficient time for proposals to be reviewed.

Motivation
This proposal is motivated by a need to optimize the governance process.

Specifications
Simple parameter tweak of snapshot.
Poll to Measure Sentiment

  • For reducing to 48 hours
  • Against reducing to 48 hours

0 voters

for, very needed proposal.

Yep, I fully support.

This is what I wanted, too

100%. This makes sense to me.

Totally agree with this proposal

Agree with this proposal! we take too long time to make a proposal!!