December 2024: Governance Update Proposals

Welcome, Chiliz Chain community!

As you know, we thrive to always improve the Chiliz Chain ecosystem. That is why we present you today with four new governance proposals. We encourage you to review each proposal with care. Your active participation is crucial in shaping the future of our network.

Purpose of the Proposals

The following proposals aim to further decentralize the chain by increasing the active set of block producing validators while also introducing a new validator to be approved by the rest of the validators. Besides this, we introduce some changes in the length of the jailing and unstaking periods.

Read our blog article about it:

STAKING UPDATES AND A NEW VALIDATOR INCLUDED IN LATEST GOVERNANCE PROPOSALS - ChilizChiliz

Validators can vote right now on the Chiliz Chain Governance dApp:

Chiliz Staking

Click to access the Chiliz Chain Governance dApp

Benefits of these proposals

• Enhanced Liquidity: Shortening the cooldown period empowers stakers with faster access to their funds.

• Improved Validator Participation: Reducing the jail period allows validators to resume operations sooner, supporting network stability.

• Increased Decentralization: Adding a new validator and increasing the maximum number of validators strengthen the network's resilience and security.

Proposal descriptions

Proposal 1: Reduce Unstake Cooldown Period

Decreases the cooldown period from 7 epochs to 2 epochs, allowing stakers to unstake their funds sooner. This way, stakers can access their funds more quickly after unstaking, enhancing liquidity and flexibility for participants.

Proposal ID	73550656206756790885481228442515624002030774790386811177867165873543978825225
Voting period (blocks)	18,666,267 -> 18,893,067 Deadline: Thursday, December 5th, 2024 at roughly 8:00–11:00 AM CET
Proposer Address	0xf299AfC34ec0B9dCAF868914288d735149d6306f
Transaction Hash	0xcda893f0802cb9020d7d0497dcbdb0a933eb37ffb136612e990cfe29bc2dae11
Block Hash	0xfe87eb1fe9e18d34c4439106938fb8772d8f69f50ef816447ff90a08b5db58f4

Proposal 2: Reduce Unjail Period

Decreases the jail period for slashed validators from 7 epochs to 4 epochs. This way, slashed validators can rejoin the network sooner, maintaining a robust and active validator set.

Proposal ID	44556333106659027840758315596101544843065895155780220754758217349597836316572
Voting period (blocks)	18,666,388 -> 18,893,188 Deadline: Thursday, December 5th, 2024 at roughly 8:00–11:00 AM CET
Proposer Address	0xf299AfC34ec0B9dCAF868914288d735149d6306f
Transaction Hash	0xdb47d05ac47a8c14264df4a5ba564d4835a4105587c65bfb2abf97bb6ee62d29
Block Hash	0xdf84daf528def73e6fd2343e08b128ad46210edd93e975972c8b0fde94d4fc9d

Proposal 3: Activate Validator #12

Adds a validator. By have more validators, we enhance the decentralization and network security of Chiliz Chain.

Proposal ID	97873233559471420596459359014336920070430443785324445967327873836631515244722
Voting period (blocks)	18,666,630 -> 18,893,430 Deadline: Thursday, December 5th, 2024 at roughly 8:00–11:00 AM CET
Proposer Address	0xf299AfC34ec0B9dCAF868914288d735149d6306f
Transaction Hash	0xa75e742b9e81d05530053c2f4114cce03b3ca14789a38a0854a2025a6f77d05c
Block Hash	0x2070a860f935e8212e284cb6bd1ab50f64cd39569901f42a1b5c9e112160e2e9

Proposal 4: Increasing the number of main active validators

Increases the maximum number of main validators from 11 to 12. Expanding the validator set allows for greater participation and further decentralizes the network. It also updates the jailing threshold to reflect the slashing thresholds for 12 validators instead of 11: this way, the validator penalty mechanisms are still fair & balanced for all validators.

Proposal ID	44034038734325640228363757057494618496018834019144107410335314583491314357436
Voting period (blocks)	18,668,236 -> 18,890,236 Deadline: Thursday, December 5th, 2024 at roughly 8:00–11:00 AM CET
Proposer Address	0xf299AfC34ec0B9dCAF868914288d735149d6306f
Transaction Hash	0x5456b8f625b69a99c95b6b1eb9dda28e1e2b9893067f6def0e6f7ccf01cb772e
Block Hash	0xd7f5eb478b1bc41913300145a433eac8f09c1f1ef7172901ef253abbe30c0d3d

Deadline for Voting

Validators should vote before Thursday, December 5th, 2024, around 8:00–11:00 AM CET.

You can get all the details on each proposal on the Chiliz Chain Governance dApp:

Chiliz Staking

Your participation is essential to ensure that these proposals are evaluated and implemented effectively, for the sake of the improvement of Chiliz Chain.

Thank you!