The validity of a registered profile is 1 year. This proposal aims to extend the duration of each profile to 2 years and change the renewal period duration to 3 months.
To prevent high attrition in the registry due to renewal cost and simultaneous $UBI sell-off to fund renewal, we propose a change on the validity of the registered profiles through a change of the parameter
submissionDuration to 2 years.
Moreover, the current setup to remove registered profiles is halted for the entire renewal duration of 6 months which is too long of ‘immunity’ period for possibly missed non-conforming and/or suspicious profiles. Another issue that was brought up is for those who wish to be removed but cannot initiate it(no option)until the 6-month renewal period is over. This can be done through a parameter change of of
renewalPeriodDuration to 3 months.
In order for the Proof of Humanity protocol to maintain the momentum in registration and remain as the largest on-chain identity system, we need to address the pain points in submission primarily the total cost to register and renew.
While the ETH usd value halved since Phase 1, ETH price forecast remains positive in the long term due to Ethereum’s widespread use (https://cryptofees.info/; https://money-movers.info/; ) and net issuance (Watch The Burn: EIP-1559 Real-Time ETH Burn Visualization for Ethereum) relatively lower than the burned ETH from fees as of today. Might sound more speculative than concrete motivation to push this proposal through, but the Proof of Humanity registration being denominated in ETH is significantly affected by price changes.
Moreover, there are few other preceding profile submission requirement alterations being proposed HIP-32, HIP 33, HIP 27 that are yet to be implemented and may be enforced at the same time as many profiles need renewing. We need more time to re-educate users and curators of the new process as we strive to balance fair incentivization and high-quality curated sybil-proof list of humans.
The proposed parameter changes on submissionDuration and renewalPeriodDuration will affect profiles:
- About to expire after 1 year in the registry
- Have renewed prior to the change and will have the new validity as specified in the change
- Current registrants not in renewal period
- Incoming submissions
A transaction with the following specifications is expected to be executed from the Proof of Humanity governor:
- Contract address: 0xC5E9dDebb09Cd64DfaCab4011A0D5cEDaf7c9BDb.
- Function: changeDurations(uint64 _submissionDuration, uint64 _renewalPeriodDuration, uint64 _challengePeriodDuration).
- Function parameters:
_submissionDuration: 63115200 (twice the current value, i.e. 2 years).
_renewalPeriodDuration: 7889400 (half of the current value, i.e. 3 months).
_challengePeriodDuration: 302400 (stays the same).
- Value to be sent: 0 ETH.
(previous phase 2 voting link)