Governance Transaction Notice – Feb 20th

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

Gateway Fee Burn

9,688.52 POKT of gateway fees was burned (tx) corresponding with last week’s gateway fees:

  • Grove - 7,135.60 POKT
  • Nodies - 2,552.92 POKT

Parameter Changes

1. RelaysToTokensMultiplier parameter change

Following PUP-32: ARR, we have updated the RelaysToTokensMultiplier parameter value to 518 (0.000518 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 ~424M, using this calculator. Note that we are doing weekly updates and using a 7-day trailing average, following PUP-29: ACCURATE.

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

Following PUP-21, we have adjusted the SSWM parameter to 3.192, reflecting the average bin of servicers.

DAO Payments

  • GRIP - reimburse Adobe subscription – 395 POKT (tx)
  • POKTscan monthly payment – 89,285 POKT (tx)

Protocol Upgrade (RC-0.11.1)

  • Activate RC-0.11.1 (tx)
  • Enable RewardDelegators Feature (tx)
  • Enable AppTransfer Feature (tx)
  • Enable MaxChains Feature (tx)
  • Enable PerChainRTTM Feature (tx)

Note: MaxChains and PerChainRTTM are enabled but will take no effect until a parameter value is chosen.