Web3 Foundation (W3F) researchers have put forward a fresh Request for Comments (RFC-0092) proposal to decrease the amount of time it takes to unstake tokens on Polkadot.
The new proposal suggests reducing the unstaking process from 28 days to as little as two days. The aim is to enhance user convenience and competitiveness without compromising security.
The proposed mechanism, put forward by W3F, involves the unbonding system, which manages and organizes unbonding requests based on the size of the queue. If the proposal successfully passes the voting phase and is approved, the new system will allow the minimum duration to be reduced to just two days when the queue is empty.
This new system will prevent the unbonding time from exceeding the current fixed period of 28 days, providing users with a faster and more efficient unstaking process.
The driving force behind the introduction of RFC-0092 is 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 discourage users who prefer faster alternatives.
To assess the potential of the proposed unbonding queue mechanism, an empirical analysis was conducted through simulation. The simulation revealed that the average unbonding time would decrease to approximately 2.67 days. At the same time, the system would remain responsive to large unbonding events without exceeding the upper limit of 28 days.
In related news, Polkadot’s Indy 500 driver Conor Daly recently shared that his father holds DOT, highlighting the growing popularity and adoption of the platform.