Extend On-Chain Voting Duration

Description

TL;DR

Tané and Lido DAO Ops contributors are proposing to extend on-chain voting duration for better participation and security:

• Main phase: 48h → 72h;
• Objection phase: 24h → 48h.

These changes will also require some protocol updates.

Proposal

Key changes:

• Main Voting Phase: Extending from 2 days to 3 days (from 48 hours to 72 hours) to ensure everyone can participate regardless of time zone or schedule;
• Objection Phase: Increasing from 1 day to 2 days (from 24 hours to 48 hours) for stronger security;
• GateSeal Duration: Adjusting to 11 days to accommodate the new timeline;
• Oracle Daemon Config: Adjusting FINALIZATION_MAX_NEGATIVE_REBASE_EPOCH_SHIFT to 2250 to accommodate the new timeline;
• UIs: Adjusting the interfaces to ensure they are in line with the new protocol state;
• Documentation: Adjusting different sections to reflect the new protocol state;
• Other minor changes include updating off-chain protocol infrastructure, services, landing pages, Forta alerts, Dune dashboards, etc.

It’s important to note that, given Easy Track motions will still have a 72-hour duration, an Easy Track factory can potentially front-run ongoing DAO decision votes if not objected to by 0.5% of the total LDO supply (assuming the DAO vote started before the ET motion, with up to a 2-day precedence). This is accepted as is, without changes. Easy Track motions can only be initiated by trusted callers, and as a last mitigating option, there is an Emergency Brakes lever to pause Easy Track entirely.

Motivation

Why proposers believe new changes are a good idea:

• Better Participation: With a 72-hour main phase, we add an extra day compared to the current duration, which should better accommodate diverse schedules and help meet quorum;
• Enhanced Security: The 48-hour objection phase, up from 24 hours, provides more time to evaluate the main phase outcomes and to respond to any issues that may arise.

Concerns to consider:

• The extended voting timeframe slows down emergency response;
• The implementation of the new timeline requires the infrastructure changes mentioned above that put additional burden on the Lido contributors.

Next Steps

If the Snapshot is supported, an on-chain vote will be held to implement the new voting phases and adjust the required parts of the protocol.