Prop 93: Decrease Voting Period and Quorum Threshold for Smart Contract Migration v0.6.0

Summary

Presently, participants in our governance process have a one-day window to vote on proposals once the necessary minimum deposit has been made to initiate them. However, the ongoing high activity on the Nolus mainnet presents a challenge for the seamless migration to the v0.6.0 smart contracts. The extensive gas requirements for a one-time migration exceed the block's gas limit, making it unfeasible.

Fortunately, the Nolus Admin contract, which oversees smart contract migrations, is equipped with a batch migration feature. This allows for the migration process to be carried out in stages. Nonetheless, this approach requires migrations to be conducted sequentially, with each batch using the wallet address of the user whose leases were most recently migrated as a reference for initiating the next.

By voting "YES" on this proposal, you are expressing your support for a temporary adjustment of the voting period from one day to 10 minutes and the quorum threshold from 33.4% to 20%, specifically for the purpose of the v0.6.0 smart contract migration. Following the completion of this migration, a subsequent proposal will be introduced to reinstate the voting period to its standard length of three days and the quorum to 33.4%.