As you know, we are starting to register new tokens to f(x)EVM via Governance proposal (type: Register Coin). The first batch of proposals are #13-#16 to register DAI, EURS, LINK, and C98.
These proposals are live for 14 days and will be implemented if it is reached 40% Quorum.
I personally have a thought regarding this matter. More tokens will come to the Function X ecosystem and we might need to vote for more ‘Register Coin” proposals. All proposals will take 14 days voting period and followed by the integration (based on the governance voting result). It might be inefficient if we have 50+ tokens coming to the ecosystem.
There are two solutions to improve this proposal:
Merge all “Register Coin” proposals by batches.
For example, we merge 5 tokens per proposal. It will save community members’ time and effort to vote for the proposal.
-The voting will be per batch, not per token.
-It is not supported by the current version and we will need some time to implement this upgrade.
Reduce the proposal duration from 14 days to 7 days (Open for discussion)
By implementing this, we can shorten the voting and implementation time.
- Currently voting takes 14 days and a token will be added to the f(x)EVM. With shorter voting time, there will be a maximum 4 batches of proposals, instead of 2.
- The shorter voting time will only be implemented for ‘Register Coin’ proposals.
The second option is open for discussion and I would like to hear your thoughts. I think 7 days will be enough for community voting, but let me know if you have other ideas.
There will be a governance proposal to implement this parameter change.