Governance Transaction Notice – Mar 20th 2023

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

Parameter Changes

1. RelaysToTokensMultiplier parameter change

Following the FREN inflation reduction program, we have updated the RelaysToTokensMultiplier parameter value to 578 (0.000578 POKT/relay) to target a daily emissions value of 662k POKT (corresponding with the SER emission schedule).

This was calculated based on a Trailing 7-day Avg Daily Relays of ~1.15B, 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 16.01%. For reference, the total supply as of Jan 1st 2023 was ~1.51B and the current total supply is ~1.567B.

2. ServicerStakeWeightMultiplier parameter change

Following PUP-21, we have adjusted the SSWM parameter to 2.63, reflecting the average bin of servicers.

3. SupportedBlockchains parameter change

The following chains were whitelisted:

  • Oasys Mainnet (0070)
  • Oasys Archival (0069)
  • Kava Mainnet (0071)
  • Kava Archival (0072)

PEP Grants

The 2nd instalment of PEP-50 was made.

Bounty Payouts

We have made a payout from the DAO treasury totalling 216,276 POKT, corresponding to RAD and IDEAS bounties for the month of February.

You can see the sum payout here, made in one transaction to an intermediate PNF wallet, from which the bounty payouts were made.

For details on who was paid out, how much, and for which bounties, please see the RAD and IDEAS threads.