[Proposal] Increase rebase functionality to every 12 hours

Hey everyone,

I wanted to propose an increase to the rebase function to every 12 hours instead of 24. Most elastic currencies choose the 24 hour target but I am of the mind that a 12 hour target is better. YAM currently uses a 12 hour rebase for contrast. The pros and cons I believe are as follows:

Pros

  • Brings USD to target price faster
  • Makes rebases more constant and top of mind

Cons

  • Increases code complexity (maybe?)
  • Users who want to mine before rebase have to worry more
  • Increases cognitive overhead

I’ll keep this up for discussion and if there is enough positive sentiment I will put it up for a vote.

I think this is not the most urgent problem to be solved right now. We can first discuss the issue of excluding the additional issuance of $USD from the unmined $share.

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Gas costs are high which is a problem with mining and claiming. If that can be improved upon, would make miners happy.

Agree the pros of rebase 2x a day though. Tough spot.

that’s true
once a day works well

I tend to agree that a 12 hour rebase is better too. It seems to will accelerate anything that happens and compounds it.

2 Likes

Hi everyone,

I wanted to create a poll to see if we should put this up for a formal vote. Thanks in advance.

Should we increase the rebase frequency to every 12 hours?

  • Yes
  • No
  • Abstain

0 voters

Probably should have brought this up before the vote, but what is the feasibility of having a random rebase ala RMPL? RMPL rebases with the possibility to occur every 12 hours, likelihood increasing linearly until guarantee of at least one rebase every 48 hours.
The purpose is obviously to make large short term trades less desirable or easy/lowrisk, but maybe that’s not as big of an issue with Dollar Protocol being 2 token.

Anyway, Im YES 12 hour rebase at least, and this addition is not a huge deal and likely outside of the scope of this proposal or powers of the governance especially if it would require a larger technical overhead than simply changing a variable how I imagine this change being done.

Voting has now concluded.

Voter turnout was low but “Yes” won. I’ll leave this up to @Robert to decide how he would like to proceed.

Voting passed.

Robert when can we implement this? It’s very much needed right now

please implement! It passed 3 days ago, speeding up recovery is of paramount importance.

Another minor(?) benefit is the current rebasing time is 1am-3am for many Asian countries. Rebasing twice a day gives everyone at least 1 opportunity to burn USD during daytime.

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Yea, I would personally love a 15:00 UTC and 3:00 UTC personally. I haven’t checked to see what the best times for the majority of the world would be but I think that could make a lot of sense.