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Change Issue deadline to 24hours
FastTracked

This is a low risk change but high impact gain to be had on reducing friction to issuance. Please consider for fast track.

Brief

To aid with issuance of IBTC, we should consider changing the issue deadline parameter back to original 24 Hours value originally intended.

Detail

Value Current Proposed
issue.issuePeriod 14,400 7200

Currently the block time hovers around 12-13s, however assuming an optimistic 12 seconds:

14,400 blocks x 12second per block = 172800 Seconds
172800 seconds = 48 Hours

Therefore:

7200 block delay = 24 Hours

Explanation

During some of Kintsugi's days there was high BTC network congestion. The deadline is split into issue and redeem, however so only griefing collateral is at stake (which is capped currently at writing at 0.5%) so there is no risk that decreasing this deadline will jeopardise interlay vaults.

The benefit to be had from decreasing this deadline though, is that any: unintended, malevolent or trollish issue requests will be rejected by the system quicker and allow for the corresponding vault collateral to be unsealed in half the time.

Edited
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Metadata
hash
0x25a2c9587c5439f6f25ed114ea66aaae56ce2200ebb6e6771f0e576296ddbf20
deposit
250 vINTR
proposer
Call
Table
Json
callIndex0x3f03
sectionissue
methodsetIssuePeriod
args
period7200
TimelineLatest activity 1mo ago
2022-08-11 16:30:48
Proposed
Index
#16
2022-08-12 12:13:18
FastTracked
2022-08-12 12:13:18
Started
referendumIndex
15
voteThreshold
SuperMajorityAgainst
2022-08-19 18:02:36
Passed
referendumIndex
15
2022-08-19 18:03:12
Executed
result
ok
Comments

I would like to note that there is a typo in the computation. It should say
14,400 blocks x 12second per block = 172800 Seconds, the suggested numbers in the call are correct though.

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