One nice thing about timelocks is that it allows accounts to be recovered without incurring losses. I always like the idea of a Power Cooldown where powering down would be like an instant skill in WOW. You can get X% of the money unlocked instantly and then the "skill" goes on CD for a week or whatever. Could even shorten the CD to 1 day.
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I have always liked the 13 week powerdown as a secuirty feature, and I liked your suggestion that we have the option to pay a penalty to power down faster, but also understand that these two asks are the athithasis of each other. I just think options are important in a free community. We could opt out of this ability to pay a fee for a faster powerdown if we feel it's a security issue, and opt in if it's a sn issue we can live with and are willing to take the risk.
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but what if someone copies your keys somehow and gets everything you own in 1 day you happened to be on vacation?
Depends on the amount of unlocks required.
I was coming from the angle of Hive with 13 unlocks total over 13 weeks.
Could even do something like 30 unlocks in 30 days.
I think custom timelocks are going to be a thing one day.
I was thinking more about something that both would keep security the way it's now but also shorten the powerdown.
I.e. 1/13th every week for 4 weeks the way it's now.
After 30 days you can't recover your funds anymore anyway with account recovery
So the 5th week of the regular powerdown would instead get you everything/the rest liquid.
so ~7.7% weekly for the first 4 weeks, then the rest ~70% on the 5th week.
If you've already lost it after 30 days it doesn't make a difference than the hacker gets everything all at once past the point of no return.
This totally makes sense to me. Best of both worlds (speed and security)
One drawback I see is the villain getting richer faster and potentially more powerful faster if they reinvest their loot in Hive. As I'm not sure that ever happened, I'm also not sure that this reluctance is relevant.
Actually, that sounds like a good way to go. What does @blocktrades and the other whales think?
Sounds pretty solid to me honestly.
I never thought about bending the mechanics around the 30 day window to recover accounts.
Seems like the way to go.
This I think is the best suggestion I have seen so far on this topic.