The following transactions were executed this week on behalf of the DAO.
Parameter Changes
1. RelaysToTokensMultiplier parameter change
Following the FREN inflation reduction program, we have updated the RelaysToTokensMultiplier parameter value to 561 (0.000561 POKT/relay) to target a daily emissions value of 690k POKT.
This was calculated based on a Trailing 7-day Avg Daily Relays of ~1.23B, 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 16.68%. For reference, the total supply as of Jan 1st 2023 was ~1.51B and the current total supply is ~1.55B.
2. ServicerStakeWeightMultiplier parameter change
Following PUP-21, we have adjusted the SSWM parameter to 2.504, reflecting the average bin of servicers.
PEP Grants
2.5M of the 10M escrowed POKT has been released to PNI corresponding with the hire of a protocol developer and a Head of Marketing. PNF has seen the signed token agreements to validate that these tokens will go towards the new hires on 4 year vesting schedules.