Nitrous & SCOTBOT shouldn't allow unstaking less than 5 days to prevent VP double spending
Repository
https://github.com/eonwarped/nitrous
Components
- Unstaking
- Voting Power (VP) split with STEEM
Proposal Description
Currently, SCOTBOT & Nitrous system shares the voting power of STEEM. This has several problems (of course, there are also some pros), notably VP double spending.
- STEEM VP full recovery takes 5 days.
To prevent VP double spending, unstaking should be at least 5 days.
Eventually, VP should better be splitted with STEEM.
Examples
Say a steem-engine token named NED has a 3 day unstaking period.
User A (with alt account B) having NED can double spend this way.
- Used up VP in account A
- Unstake (which takes 3 days)
- Transfer NED from A to B (B has a full VP)
- Used up VP in account B
- Unstake
- Transfer NED from B to A (Now A has a full VP again)
- repeat!
Benefits
- VP double spending prevention (also helps avoiding unnecessary transactions due to double spending.)
- VP should be split with STEEM. Currently, users with high SP is better to use alt account for managing their VP, which is quite cumbersome and unnatural. It's much better for users to use the same account for both on Steemit and many other Nitrous sites.
Thank you for contributing @blockchainstudio!
It took a while to understand the proposal to be honest until I finally realized that it is a great idea. If the vp takes 5 days to recover, unstaking should also take 5 days.
I think steemit had the same problem of double spending before HF20 as users were able to consume their vp and then delegate to some other account and use it again, though after undelegating, it took 7 days to get back your sp. (Pardon me if I am not making the correct comparison).
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[utopian-moderator]
Hi @syedumair, thank you for your review and you're right. And yes, it's actually an important suggestion. Based on my suggestion, one community has already planned to change it's unstaking from 3 to 5 days. Thank you so much again!
곰돌이가 @blockchainstudio님의 소중한 댓글에 $0.014을 보팅해서 $0.009을 살려드리고 가요. 곰돌이가 지금까지 총 4755번 $53.597을 보팅해서 $60.451을 구했습니다. @gomdory 곰도뤼~
Thank you for your review, @syedumair! Keep up the good work!
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Korean: SCT 등 SCOTBOT unstaking을 5일 이상으로 설정해야 하는 이유에서 설명한 내용 공식 제안입니다.
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