Governance Transaction Notice – July 31st

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

Gateway Fee Burn

272,172.41 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 186 (0.000186 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 3.0419, reflecting the average bin of servicers.

DAO Payments

PEP-49 - PNI Compensation (tx)

900k POKT of the remaining 5.58M escrowed POKT has been released to PNI corresponding with the hire of a senior protocol software engineer. PNF has seen the signed agreement and validated that these tokens will go towards the new hire on a 4 year vesting schedule. There is now 4.68M POKT remaining in escrow.