Summary

This proposal adjusts the governance parameters across all Lazy Summer Protocol chains to optimize the governance process based on community feedback:

• On base (Hub Chain):

  • Voting Delay: 86400 seconds (1 days)
  • Voting Period: 259200 seconds (3 days)
  • Timelock Delay (Execution): 86400 seconds (1 days)

• On Satellite Chains:

  • Timelock Delay (Execution): 86400 seconds (1 days)

Motivation

As discussed in the governance forum, the current governance parameters have been found to be longer than necessary. These adjustments will streamline the governance process while still maintaining adequate time for community participation and security considerations.

The new governance flow will be:

• Post Tally Vote → Wednesday
• Tally Vote Opens for Voting → Thursday - Friday - Saturday
• Vote Execution Delay → Sunday (Base Network) / Monday (Other Networks)

Specifications

Actions on base (Hub Chain):

1. Update voting delay to 86400 seconds
2. Update voting period to 259200 seconds
3. Update execution delay to 86400 seconds

Actions on arbitrum (via Cross-Chain Proposal):

1. Update execution delay to 86400 seconds

Actions on mainnet (via Cross-Chain Proposal):

1. Update execution delay to 86400 seconds

Actions on sonic (via Cross-Chain Proposal):

1. Update execution delay to 86400 seconds

Technical Details

The proposal updates the following parameters:

• Voting Delay: The time between a proposal being submitted and voting beginning (setVotingDelay function) - Hub Chain only
• Voting Period: The duration of the voting window (setVotingPeriod function) - Hub Chain only
• Execution Delay: The timelock period after a proposal passes before it can be executed (updateDelay function) - All chains

Since all governance voting occurs on the hub chain, voting delay and period parameters are only updated there, while the execution delay is updated across all chains to maintain consistent security guarantees.