# Governance Transaction Notice – June 11th 2024

**URL:** <https://forum.pokt.network/t/governance-transaction-notice-june-11th-2024/5260>\
**Category:** Foundation\
**Created:** [June 12, 2024, 1:37am UTC](https://forum.pokt.network/t/governance-transaction-notice-june-11th-2024/5260 "2024-06-12T01:37:24Z")\
**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:** [June 12, 2024, 1:37am UTC](https://forum.pokt.network/t/governance-transaction-notice-june-11th-2024/5260/1 "2024-06-12T01:37:24Z")

</div>

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

# Gateway Fee Burn

29,965.15 POKT of gateway fees was burned ([tx](https://poktscan.com/tx/554C249AEF87CF022D3784869B740D7AEA5AB92EA98C82749AC8F499323BB331)) corresponding with last week’s gateway fees. See the distribution of per-gateway relays [here](https://poktscan.com/explore?tab=gateways).

# Parameter Changes

## 1. [RelaysToTokensMultiplier parameter change](https://poktscan.com/tx/87685E73F68F61596494855F519C867CF92BF8EB008FA788CFCE0D9237925C5E)

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 356 (0.000356 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 ~618M, 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/F45D4A9ED3E35B821F47153A0A61ADDA04F7D3745ECCC4DFC150CE10061393CD)

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 3.18, reflecting the average bin of servicers.