# Governance Transaction Notice – July 31st

**URL:** <https://forum.pokt.network/t/governance-transaction-notice-july-31st/4644>\
**Category:** Foundation\
**Created:** [July 31, 2023, 11:16pm UTC](https://forum.pokt.network/t/governance-transaction-notice-july-31st/4644 "2023-07-31T23:16:15Z")\
**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 31, 2023, 11:16pm UTC](https://forum.pokt.network/t/governance-transaction-notice-july-31st/4644/1 "2023-07-31T23:16:15Z")

</div>

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](https://poktscan.com/tx/5C12ABDD4DBC4CD49599C23B6439AA5A109B2B7DFA262C4C8435427CC692DDE1)), corresponding with last week’s gateway fees.

# Parameter Changes

## 1. [RelaysToTokensMultiplier parameter change](https://poktscan.com/tx/064344D485821C16F8FA905C57C6E317591020F2FEF8B4C10A9A3DA53E5024FC)

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 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](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/731110AE5B716A9A5B19D8D6D3AA6FD598764C6F79C1B48AE06A41EF0F84E0DF)

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 3.0419, reflecting the average bin of servicers.

# DAO Payments

[PEP-49 - PNI Compensation](https://forum.pokt.network/t/pep-49-pni-compensation-amended/3772) ([tx](https://poktscan.com/tx/144049A10860409BAA5CDF3E1710B50C37020FEFBBF61075593B7E3CD0F418FB))

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.