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RE: HF Proposal: Vote to Reduce Power Down Period to 4 Weeks

in #steemdaolast year (edited)

Why I was proposing the two staking pools is to cater to both short term and longer term investors.
Shorter term investors have more liquidity while still can participate in PoB and longer term investors who are willing to give up liquidity to show commitment by locking up have more power in governance.
The silly thing about the current system imo is that 13 weeks is such a tall commitment especially on crypto space to participate in PoB, one of our "unique feature". On the other hand, people with minimal commitment voting on the future of the chain looks like recipe for disaster.
If it's deemed to be too complicated to implement I suppose it's not worth it after all.

Custom duration lockup period that works with SP would be cool but It will never be implemented because it will never be on top priority lol.

If this proposal passes as is I am actually more in favor for 1 week instead chickening on 4 weeks, maybe I am too paranoid about exchanges voting. As for security... I guess we need to be more careful with our keys.

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I think staking multiple pools, variable locking periods for security, etc. might be okay but I don't think they should be at the base layer. If we had even simple smart contracts like Bitcoin or perhaps even a tiny bit more powerful, then these sorts of features could be added as applications (and this is necessary for things like cross chain swaps, payment channels, etc.). That's obviously not going to happen in the next version but once we are done playing with SMTs, maybe we will start to realize that trying to satisfy every need at the base layer with hard forks needed for each and every change is impractical and foolish.

Ideal solution to me is where staking long period is not only a security feature but also grants more power for witness voting and SPS by giving up liquidity. Ideally will be like 1 week stake have x1 vote multiplier, 2 week stake have x2 vote multiplier, and so on. If staking for a long period have no incentive whatsoever might as well have minimum stake period.

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