Governance Transaction Notice – June 19th

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

Gateway Fee Burn

177,516.37 POKT of gateway fees was burned (tx), corresponding with last week’s gateway fees.

Parameter Changes

1. RelaysToTokensMultiplier parameter change

Following the FREN inflation reduction program, we have updated the RelaysToTokensMultiplier parameter value to 567 (0.000567 POKT/relay) to target a daily emissions value of 585k POKT (corresponding with the SER emission schedule).

This was calculated based on a Trailing 7-day Avg Daily Relays of ~1.032M, using this calculator.

Note that we are now doing weekly updates and using a 7-day trailing average, following the approval of the ACCURATE proposal.

This results in an Effective Annual Inflation of 14.14%. For reference, the total supply as of Jan 1st 2023 was ~1.51B and the current total supply is ~1.625B.

2. ServicerStakeWeightMultiplier parameter change

Following PUP-21, we have adjusted the SSWM parameter to 2.905, reflecting the average bin of servicers.

DAO Payments

  • RAD bounties – PocketJS gov txs (by Poktblade), h5law protocol, Bigboss protocol, Praise bounties
  • DAN Payments – Thunderstake, Community Chains, Stakenodes,, Miss_kitty
  • Scholarship Grant – governance research by LawJam
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