[Proposal] Decrease rating period from 72-hours to 48-hours

Going off of my last post, we want to continue to increase utilization and decrease frictions for borrowers to make loan requests. As the protocol continues to mature (see: Rate Model), I believe this decreases the need for forum posts and ‘rating’ of individual loans. Over time, we will make additional proposals to eliminate these aspects of TrueFi entirely, the process enabling ‘private borrowing’ (more to come on this… but it’s highly requested by many of the industry’s largest borrowers).

As a first step, I’m proposing that we decrease the minimum ‘rating period’ from 72-hours to 48-hours. This means that if a borrower receives the minimum amount of ‘rates’ required, they can withdraw their loan request in as fast as 48-hours, rather than the previous 72-hours.

Are you in favor of this change?

Should we decrease rating period from 72-hours to 48-hours?
    • Yes
    • No
    • Yes, but with changes (please comment below)

0 voters

1 Like

I am voting to support this change. I considered voting “yes, but with changes” but ultimately did not.

I am concerned that if a loan request came in on a Friday afternoon in the US, that the 48-hour window could pass before enough participants see the proposal and participate in voting. That said, we are also shifting from a world dominated by “bankers hours” to an “always-on” crypto market. We need to monitor if loans posted on certain days of the week continuously fail to meet the voting requirements and be ready to adjust if necessary.

Thank you for the proposal Ryan.


Live on Snapshot: Snapshot