# Governance Transaction Notice – 17th July 2024

**URL:** <https://forum.pokt.network/t/governance-transaction-notice-17th-july-2024/5336>\
**Category:** Foundation\
**Created:** [July 17, 2024, 1:02am UTC](https://forum.pokt.network/t/governance-transaction-notice-17th-july-2024/5336 "2024-07-17T01:02:55Z")\
**Posts on this page:** 1\
**Page:** 1

<div class="post-metadata">

**Author:** ![b3n](https://forum.pokt.network/user_avatar/forum.pokt.network/b3n/32/1029_2.png) [@b3n](https://forum.pokt.network/u/b3n)\
**Post date:** [July 17, 2024, 1:02am UTC](https://forum.pokt.network/t/governance-transaction-notice-17th-july-2024/5336/1 "2024-07-17T01:02:55Z")

</div>

The following transactions were executed this week on behalf of the DAO.

# Gateway Fee Burn

65,369.562133 POKT of gateway fees was burned ([tx](https://poktscan.com/tx/105DBC78F09AB695675BE2925D005D8EA8686D9CB8799A8AE4EADA7C5768FBD5)) corresponding with last week’s gateway fees. See the distribution of per-gateway relays [here](https://poktscan.com/explore?tab=gateways).

# Parameter Changes

## 1. [RelaysToTokensMultiplier parameter change](https://poktscan.com/tx/783DC72099C7962C3278EDA19E27CF62454D64DC72A85E4BCF33E68312646138)

Following [PUP-32: ARR](https://forum.pokt.network/t/pup-32-accelerating-the-road-to-revenue-arr/4494), we have updated the RelaysToTokensMultiplier parameter value to 428 (0.000428 POKT/relay) to target a fixed daily emissions value of 220k POKT.

This was calculated based on a Trailing 7-day Avg Daily Relays of ~514,266,191, using [this calculator](https://docs.google.com/spreadsheets/d/1wB68m64SjYvWrvfgXyHBbWn0N3QINp8WDMgNVtErJKE/). Note that we are doing weekly updates and using a 7-day trailing average, following [PUP-29: ACCURATE](https://forum.pokt.network/t/pup-29-a-cadence-change-to-updates-of-rttm-adjustment-for-target-emissions-accurate/3777).

This results in an Effective Annual Emissions of 4.9%, relative to the total supply of ~1.64B recorded on July 10th (the date of the first ARR transaction).

## 2. [ServicerStakeWeightMultiplier parameter change](https://poktscan.com/tx/AF64B447B476DC6491C40F1A828A8AD9CD0CBAFC8580A8B4A80D235412157783)

Following [PUP-21](https://forum.pokt.network/t/pup-21-setting-parameter-values-for-the-pip-22-new-parameter-set/3200), we have adjusted the SSWM parameter to 3.19, reflecting the average bin of servicers.