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Increase Issue, Redeem and Replace Periods to 48h (@ 12s p/b)
4mos ago
Executed

Many Bitcoin transactions are currently getting stuck due to low inclusion fees. Some have been open for 8+ hours and have estimated inclusion times of 24+ hours. Current inclusion estimates say that 19 sat/vB should be included in an hour. However anything below that (5 redeem requests at time of writing) might take a day or longer. It is not clear why Vaults are spending too little on fees but it is possible that the ongoing market volatility is playing a role.

In order to prevent honest Vaults from being slashed / banned we should fast-track this proposal to increase the timeouts from 24 to 48 hours (on the assumption of 12s block times - in reality this will be longer).

The team will continue to investigate future mitigations such as the replace-by-fee mechanism.

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0x5a2543959597bf6a8bb484f983409da897afc070bfec97b232f77d28b8491bca
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callIndex0x1c03
sectiondemocracy
methodfastTrack
args
propIndex34
delay3
TimelineLatest activity 4mos ago
2022-05-12 09:24:54
Proposed
2022-05-12 09:24:54
Executed
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