Governance Transaction Notice – July 24th

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

Gateway Fee Burn

282,073.64 POKT of gateway fees was burned (tx), corresponding with last week’s gateway fees.

Parameter Changes

1. RelaysToTokensMultiplier parameter change

Following PUP-32: ARR, we have updated the RelaysToTokensMultiplier parameter value to 168 (0.000168 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 ~1.31B, 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 3.036, reflecting the average bin of servicers.

DAO Payments

An additional DAN payment totalling 40,519 POKT was made to make up for a shortfall in the May payment resulting from the use of an outdated price. (tx)

PEP-49 - PNI Compensation (tx)
560k POKT of the remaining 6.14M escrowed POKT has been released to PNI corresponding with the hire of a senior frontend engineer, an account executive, and a product manager. PNF has seen the signed agreements and validated that these tokens will go towards the new hires on 4 year vesting schedules. There is now 5.58M POKT remaining in escrow.