# Governance Transaction Notice – July 24th

**URL:** <https://forum.pokt.network/t/governance-transaction-notice-july-24th/4615>\
**Category:** Foundation\
**Created:** [July 25, 2023, 1:55am UTC](https://forum.pokt.network/t/governance-transaction-notice-july-24th/4615 "2023-07-25T01:55:11Z")\
**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:** [July 25, 2023, 1:55am UTC](https://forum.pokt.network/t/governance-transaction-notice-july-24th/4615/1 "2023-07-25T01:55:11Z")

</div>

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](https://poktscan.com/tx/4CC521CF1A75DABE8620577CB8EB83188DC7CDCC8D21D1DFDFD0D64A1E22FCAF)), corresponding with last week’s gateway fees.

# Parameter Changes

## 1. [RelaysToTokensMultiplier parameter change](https://poktscan.com/tx/F096963BF0869027D7D5EF69E4E659A4CCF4D806AD9F618A11FDFA0CA10F312E)

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 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](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/020C64DB44C9A29FF1EF91CF95112733B3DC5D4B50FCF2449FFEB1346E468229)

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 3.036, 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DAN payment totalling 40,519 POKT was made to make up for a shortfall in the May payment resulting from the use of an outdated price.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](https://v2.poktscan.com/tx/CA653DB63224EBD2F2BAC5E1366E17B014696CC3DA2B15C95FDD578A99FB889A))

[PEP-49 - PNI Compensation](https://forum.pokt.network/t/pep-49-pni-compensation-amended/3772) ([tx](https://v2.poktscan.com/tx/795E004694077D307FE7363E8774EDDD2D6A67666CB7BC597173D3C465B2E680))  
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.