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Temporarily extend redeem period for 8 days
3mos ago
Executed

Summary

We want to temporarily extend the redeem period to allow us to fix / implement a way to bump transaction fees.

In the meantime, we recommend all Vault operators manually enable Replace-By-Fee (RBF) on their bitcoin full-nodes by setting walletrbf=1.

Proposal

Increase the redeem period to approximately 7 days (assuming ~12s per block).

We currently have a Vault with redeem requests where the block inclusion fees are set too low. Unfortunately the RBF feature we enabled in the client doesn't seem to work.

Considering the above, we want to extend the redeem times so that we have enough time to either find what's not working with RBF or find an alternative way for Vaults to "bump" the chances of their transaction being included on mainnet.

NOTE: this is a temporary change and will revert in approximately 8 days which should give Vault operators enough time to adjust their configurations.

Edited
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Metadata
Proposer
Hash
Delay
02022-06-13 19:18:00
End
02022-06-13 19:16:00
Threshold
Call
Table
Json
callIndex0x0200
sectionutility
methodbatch
args
calls
0
callIndex0x1704
sectionredeem
methodsetRedeemPeriod
args
period50400
1
callIndex0x0400
sectionscheduler
methodschedule
args
when1043800
maybePeriodicnull
priority63
call
value
callIndex0x1704
args
period14400
TimelineLatest activity 3mos ago
2022-06-13 14:43:30
Proposed
Index
#43
2022-06-13 15:20:12
FastTracked
2022-06-13 15:20:12
Started
referendumIndex
40
voteThreshold
SuperMajorityAgainst
2022-06-13 19:16:00
Passed
referendumIndex
40
2022-06-13 19:18:00
Executed
result
ok
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