undefined | Better HN

0 pointsPragmaticPulp4y ago0 comments

> It's enough time for most people to exit during normal circumstances.

Most people don't monitor the finer details of their investments 24/7.

12 hours is better than nothing, but it's unrealistic to expect everyone to stay tapped into news feeds about their crypto at minimum twice a day.

0 comments

seoaeu4y ago

Yeah, 12 hours means you can't even count on watching during business hours, you need to constantly be checking evenings and weekends too.

ikeboy4y ago

The main benefit is reducing the incentive for the developers to steal. If you know 90%+ of the funds will disappear before you can do anything then it's much less attractive (where the alternative is making money by fees over time if the protocol is successful).

The risk needs to be balanced with the risk of funds lost because of a smart contract bug that can't be fixed. Different projects make different choices here.

blake14y ago

I think an unscrupulous developer would find 10% of $275mn to be a pretty big incentive. Sure it’s relatively less, but still a very large number.

xur174y ago

Typically projects like this start with "training wheels" like this at launch, and gradually increase the timelock delay and / or move the control over to a dao to control.

TigeriusKirk4y ago

People doing esoteric DeFi are tapped in much more often than that. I'd agree in a broad general use case it's not enough time, but for DeFi as it is today, it's plenty.

senjin4y ago

But we're not watching contract changes. We're relying on that from 2nd and 3rd hand sources that might not be available in a 12 hour window.

j / k navigate · click thread line to collapse