We’re running four governance proposals suggesting the below changes to the chain. The proposal ends next Thursday (December 3rd).
- Adding Mercado Bitcoin as a new validator.
- Reducing the unstake period to 2 epochs (2 days)
- Reducing the unjail period to 4 epochs (4 days)
- Increasing the number of main active validators to 12.
That’s four pretty significant changes. Let’s take a quick look at what it all means.
Adding Mercado Bitcoin as a Validator
Mercado Bitcoin is the biggest crypto exchange in Brazil and a long-time Chiliz associate with multiple Fan Tokens listed on its platform. The addition of Mercado Bitcoin will further strengthen our validator set, which features world-recognised institutions from blockchain, sports, and other sectors.
Reducing the unstake period to two days.
As it stands, it’s a seven-day wait after unstaking CHZ before they can be claimed back. The proposal intends to reduce this waiting period to just two days, creating a more liquid and flexible experience for our staking community.
Reducing the unjail period to 4 days.
Currently, when a validator goes to jail, it’s a 7-day wait before they can rejoin the set and start producing blocks again. The new proposal will reduce this waiting period to 4 days. This will bring us in line with common industry practice and help minimize operational disruption by pushing validators to fix the underlying issues that lead to speedy jail time.
Increasing the number of main active validators to 12
As a PoSA chain with a limited set of validators that can propose new blocks, this new proposal will be the first step in adding more decentralisation to the network.
