Governance Transaction Notice – Feb 19th 2023

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

Parameter Changes

1. RelaysToTokensMultiplier

Following the FREN inflation reduction program, we have updated the RelaysToTokensMultiplier parameter value to 603 (0.000603 POKT/relay) to target a daily emissions value of 690k POKT.

This was calculated based on a Trailing 7-day Avg Daily Relays of ~1.14B, using this calculator.

Note that we are now doing weekly updates and using a 7-day trailing average, following the approval of the ACCURATE proposal.

This results in an Effective Annual Inflation of 16.29%. For reference, the total supply at the start of FREN was ~1.38B and the current total supply is ~1.545B.

2. ServicerStakeWeightMultiplier

Following PUP-21, we have adjusted the SSWM parameter to 2.44, reflecting the average bin of servicers.

PEP Grants

  1. PEP-49 (test, actual)
  2. PEP-50 (test, actual)
  3. PEP-51 (test1, test2, actual)
  4. PEP-52 (test, actual)