Summary
The objective of this proposal is to increase the staleness circuit breaker for Pyth-based feeds from 60 seconds to 300 seconds.
Motivation
The Pyth staleness circuit breaker is used as a security measure for Mars to avoid accepting stale prices from Pyth. At the moment, if a certain feed was updated more than 60 seconds back, any transaction using that feed would be invalid since the price would be considered stale. While the need for the staleness circuit breaker is obvious, we believe the current setting is too aggressive. This increases the resources Mars needs to spend to keep the price updated, as well as representing an issue when the blockchain faces congestion, since the probability of price updates not happening within the necessary time window is higher. This is the reason why we propose to increase the parameter to 300 seconds. We believe this new setting will allow the protocol to operate more efficiently and offer better liveness guarantees (particularly during high congestion times), without significantly sacrificing protocol safety.
Implementation
This is a signaling proposal, not an executable proposal.
The Mars smart contracts on the Osmosis chain are currently controlled by the Builder Multisig address. If this proposal passes, the builders will utilize their multisig to make the necessary parameter changes.
Copyright
Copyright and related rights waived via CC0.
Disclaimers/Disclosures
This proposal is being made by Delphi Labs Ltd., a British Virgin Islands limited company. Delphi Labs engages in incubation, investment, research and development relevant to multiple ecosystems and protocols, including the Mars Protocol. Delphi Labs and certain of its service providers and equity holders own MARS tokens and have financial interests related to this proposal. Additionally, Delphi Labs is one of several entities associated with one another under the “Delphi Digital” brand. Delphi Digital’s associated entities and/or equityholders or service providers of such entities may hold MARS and may have financial interests related to this proposal. All such entities, service providers, equity holders and other related persons may also have financial interests in complementary or competing projects or ecosystems, entities or tokens, including Osmosis/OSMO, ATOM, stATOM and Stride/STRD. These statements are intended to disclose relevant facts and to help identify potential conflicts of interest, and should not be misconstrued as a complete description of all relevant interests or conflicts of interests; nor should they be construed as a recommendation to purchase or acquire any token or security.
This proposal is also subject to and qualified by the Mars Disclaimers/Disclosures. Delphi Labs may lack access to all relevant facts or may have failed to give appropriate weighting to available facts. Delphi Labs is not making any representation, warranty or guarantee regarding the accuracy or completeness of the statements herein, and Delphi Labs shall have no liability in the event of losses or damages ensuing from approval or rejection or other handling of the proposal. Each user and voter should undertake their own research and make their own independent interpretation and analysis of all relevant facts and issues to arrive at their own personal determinations of how to vote on the proposal.