Moonwell

Summary:

This proposal seeks to reduce the cooldown period for the Safety Module on Moonbeam from 10 days to 7 days, aligning it with the cooldown period adjustments recently implemented on Base and Optimism. Unlike on Base and Optimism, the Safety Module on Moonbeam required a contract upgrade to implement this change. This upgrade has been rigorously audited by Halborn Security, with a clean report and no issues identified, ensuring a secure and seamless transition.

Technical Implementation:

Upon successful execution, the following actions will be taken:

• Call setCoolDownSeconds on the stkWELL contract (Moonbeam).
  • New value: 604800 seconds (equivalent to 7 days).
• Upgrade the Moonbeam Safety Module implementation via the proxy admin.

Frequently Asked Questions:

1. What does this proposal do? This change completes the transition initiated in MIP-X05, ensuring that the Safety Module across all networks functions consistently with a 7-day cooldown period, providing WELL stakers with feature parity regardless of the network they stake on.

2. How does this impact unstaking? Once this proposal is executed, WELL stakers on Moonbeam will experience the same 7-day cooldown period for unstaking WELL that is already in place on Base and Optimism.

3. Has this change been audited? Yes, the stkWELL contract on Moonbeam has undergone a security audit by Halborn Security with no issues identified.

Timeline:

• Voting Period: 3 days
• Implementation: Immediate upon successful execution.

Voting Options:

• For (Aye): Vote in favor of implementing the reduced cooldown period on the Moonbeam Safety Module.
• Against (Nay): Vote against implementing these changes, maintaining current cooldown period on Moonbeam.
• Abstain: Participate in voting while remaining neutral on the proposal