Web3 Foundation (W3F) researchers have introduced a groundbreaking proposal to decrease the amount of time it takes to unstake tokens on Polkadot. The new plan aims to reduce the unstaking process from 28 days to just two days, all while ensuring the utmost security.
The proposed mechanism, known as RFC-0092, focuses on improving user convenience and competitiveness without compromising the system’s security. It involves the unbonding system, which manages and organizes unstaking requests based on the size of the queue.
If the proposal successfully passes the voting phase, users will be able to unstake their tokens in as little as two days when the queue is empty. This new system will prevent the unbonding period from extending beyond the current fixed period of 28 days, providing users with a faster and more efficient unstaking process.
The introduction of RFC-0092 was driven by the fact that Polkadot currently has one of the longest unbonding periods among proof-of-stake protocols. While staking on Polkadot offers a high annual percentage yield, the lengthy unstaking process may deter users who prefer faster alternatives.
To assess the potential of the proposed unbonding queue mechanism, an empirical analysis was conducted through simulations. The results indicated that the average time for unbonding would be reduced to approximately 2.67 days. Additionally, the system would remain flexible enough to handle large-scale unbonding events without surpassing the upper limit of 28 days.
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