Proposal #41
Passed on 18 Sept 2023 with 100.0% of the votes for yes.
Yes
100.0%
100.0% without abstain
Veto
0.0%
of votes cast
Ended
18 Sept 2023
100.00%
of votes cast
0.00%
of votes cast
0.00%
of votes cast
0.00%
of votes cast
A governance proposal to increase the interest due period for lease positions from 7 days to 14 days. The 2-day grace period post interest period will remain unchanged.
Currently, lease positions have an interest period of 7 days. Interest accrues on a lease during this time based on a fixed rate specific to that position. Once this 7-day period concludes, if the user has not addressed the interest owed, a 2-day grace period is provided for manual interest repayment. During this grace period, interest is not deducted, offering an additional window for manual interest repayment. Absent any payment by the end of the grace period, the owed interest for the initial 7-day period is automatically claimed from the position through a partial liquidation.
There has been feedback from the community suggesting an extension of the interest due period. The intent behind this is to offer a more convenient timeframe for managing lease positions.
By voting YES on this proposal, participants are indicating their agreement to extend the interest due period from 7 to 14 days. The existing 2-day grace period post the interest period is proposed to remain the same.