Hey Dragons! 
We’re excited to introduce a new proposal from the team today. This change is designed to encourage new token holders to buy HMX and simplify the HMX ecosystem by bringing a new level of flexibility for token holders at this crucial moment in the bullrun.
Background:
In February, we introduced a 21-day cooldown period to staking, designed to prevent voting power manipulation where users can quickly buy up tokens, stake, vote, unstake, and sell over a short period of time without restriction or penalty with the introduction of our governance process. This cool down period means that when users choose to unstake their HMX tokens, there is a mandatory 21-day waiting period before they can claim their tokens.
Observation:
We observe that the 21-day unstaking cooldown discourages new token holders from buying HMX, diminishing the primary incentive to purchase the token.There are alternative ways to address vote manipulation without negatively affecting genuine platform users. For example, taking a snapshot before the vote could help mitigate issues effectively. We are currently exploring this possibility to ensure a fairer experience for all participants.
Proposal:
We propose to completely remove the 21-day unstaking cooldown period. If this decision is approved, it will take effect shortly after and will be applied retroactively, meaning any ongoing cooldown periods at the time of this proposal’s implementation would be immediately lifted.
Here is a summary of the proposal:
Current Unstaking Rules:
- 21-day unstaking cooldown period (users who choose to unstake their HMX tokens must complete a 21-day waiting period before they can reclaim their tokens.)
Proposed Modification:
- Complete removal of the 21-day unstaking cooldown period
Implementation Details:
- This change will take effect shortly after the vote and will be applied retroactively. Any ongoing cooldown periods at the time of this proposal’s implementation will be immediately lifted.
2 Likes
not just the 21 cooldown, as rewards is felt only after 3yrs, my G!! do you know it feels like forever in this duration??? this is not already a reward for us traders, this is trapping our rewards actually for 3yrs
Hey @greyy182, I think there’s a misunderstanding. We’re talking about the 21-day unstaking cooldown period, which means that once you’ve staked, you need to wait 21 days to unstake your HMX tokens. This cooldown period only applies to HMX token and does not apply to esHMX. You can find more information about this measure right here.
Welcome to the HMX Governance Forum by the way and thank you for your participation!
Great proposal, combating voter manipulation can be done differently.
But if you’d like to somewhat shield selling pressure, or curb it, you could do a dual system:
- HMX stakers earn as they do right now - no lock period
- HMX stakers agree to a x-amount long lock period, but earn an extra amount of esHMX or a partner token that doesn’t dilute HMX further.
This way you can play more sides and satisfy various investor needs.
Side note: nothing wrong with the vesting schedule, yes it’s long, but esHMX earns USDC.e - the compound effect is your friend. Short-term holders get enough rewarded as is. Don’t be so greedy boys and girls 
1 Like
Thank you for your suggestion, @SeabassCity. This isn’t the main focus of this proposal, but if others agree with this I encourage them to start a discussion on the forum so it might potentially lead to a vote 
HIP-6 is now live for voting on Snapshot by the way: Vote HIP-6 on Snapshot
Make your voice heard Dragons!
It’s positive in the long term to remove the 21 Day period. But we should implement another method to address vote manipulation at the same time and in the same proposal
Welcome to the forum @LoneDragon! Thank you for your suggestion, we’ll definitely work on this point and explore ways to address it effectively. In the meantime, please don’t hesitate to share any solutions or ideas you might have here. Your input is always valuable.
Dragons , the votes are in and HIP-6 results are official! We will be removing the 21-day Unstaking Cooldown Period.
We want to thank everyone who actively participated in the discussions on the forum as well as those who took the time to vote. Your participation is essential to moving the project forward!
Snapshot Results: https://snapshot.box/#/s:hmx.eth/proposal/0x0efd4f83d6585477fca033756f9dc1fafca91f06487cb4c4d63fb0e6b7beaf0c
Discord Governance Channel: HMX 🐉