# Governance Transaction Notice – Aug 15th

**URL:** https://forum.pokt.network/t/governance-transaction-notice-aug-15th/4681
**Category:** Foundation
**Created:** [August 15, 2023, 5:41pm UTC](https://forum.pokt.network/t/governance-transaction-notice-aug-15th/4681 "2023-08-15T17:41:51Z")
**Posts on this page:** 1
**Page:** 1

<div class="post-metadata">

### Author: ![JackALaing](https://forum.pokt.network/user_avatar/forum.pokt.network/jackalaing/32/39_2.png) [@JackALaing](https://forum.pokt.network/u/JackALaing)
#### Post date: [August 15, 2023, 5:41pm UTC](https://forum.pokt.network/t/governance-transaction-notice-aug-15th/4681/1 "2023-08-15T17:41:51Z")

</div>

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

# Gateway Fee Burn

265,681.25 POKT of gateway fees was burned ([tx](https://poktscan.com/tx/908C97F1632E873414A9DDE792A66358866E7C800C2B120539B87BDD2B3AA1E4)), corresponding with last week’s gateway fees.

# Parameter Changes

## 1. [RelaysToTokensMultiplier parameter change](https://poktscan.com/tx/1079D0F0A43260664CDF9AB415014B4BC8761AA0F900003AED3C01F52C275658)

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 157 (0.000157 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 ~1.4B, 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/27C493A7B6FD1A0179A495AF0A241A461940553563C526F00581A803E51CF916)

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 3.0382, reflecting the average bin of servicers.

# DAO Payments

- ERA Budget ([test](https://poktscan.com/tx/A04C2F93ACD5FA9CB4BCF8DEDF304BB3692E96B6F3A9750598BB51ACE38E7BF7), [remainder](https://poktscan.com/tx/41547B53787DFA9004AC4E6844B3570A282FC9563E3FE141D91E8E7A8265AC38)) – 15,820,313 POKT of committed spend from the ERA Budget has been moved into a PNF wallet, which can be viewed [here](https://poktscan.com/account/3fb4f59969bf6094f5408dfe107beea4d67810fb)
- ERA Allocation ([test](https://poktscan.com/tx/60B9246158F023237FAD2FE613C953603E83231CBEE1BC0236E365D818DA2C6F), [remainder](https://poktscan.com/tx/22360B879EDA9F3D28423661B37677281490E220BC7DED5BA50960B1E78EC3AD)) – 2,953,578 POKT of the ERA Allocation from the previous cycle has been moved into a PNF wallet, which can be viewed [here](https://poktscan.com/account/4e67bdb7d099c8a754b22c852a9fe140b7d47849)

For more on the ERA Budget, Allocation, and the wallets these are being held in, see [this documentation](https://poktdao.notion.site/Era-Budget-Allocation-and-Wallets-f27c02ac52da49ec94224a184aa25ada?pvs=4) and the update posted by @b3n below:

> [@The Dawn of the new Era](https://forum.pokt.network/t/the-dawn-of-the-new-era/4606/7):
>
> Today we completed the first transactions from the Era Budget and Allocation. This included:
> 
> 1. The transfer for **15,820,313 POKT** from the DAO to the Copper Vault (3fb4f59969bf6094f5408dfe107beea4d67810fb). This covers the first tranche of committed spending for the Era Budget. This leaves 27,572,829 POKT remaining to be allocated for future Era budget commitments.
> 
> Tx hash: [https://poktscan.com/tx/41547B53787DFA9004AC4E6844B3570A282FC9563E3FE141D91E8E7A8265AC38](https://poktscan.com/tx/41547B53787DFA9004AC4E6844B3570A282FC9563E3FE141D91E8E7A8265AC38)
> 
> 1. The transfer of **2,953,578 POKT** from the Era Allocation to the Era Hot Wallet (4e67bdb7d099c8a754b22c852a9fe140b7d47849) for distribution to community contributors.
> 
> Tx hash: [https://poktscan.com/tx/22360B879EDA9F3D28423661B37677281490E220BC7DED5BA50960B1E78EC3AD](https://poktscan.com/tx/22360B879EDA9F3D28423661B37677281490E220BC7DED5BA50960B1E78EC3AD)
> 
> Commitments made to date can be found in this summarised version here. We will provide the itemised expenses including payments as part of the Cycle reporting in 2 weeks.
> 
> ![image](https://forum.pokt.network/uploads/default/original/2X/2/23d8d05095ec73b9d633aae8d8cb53cc8fe8a07e.png)
> 
> \*_Note: POKT equivalent calculations refer to POKT price at time of transaction only_