Governance Transaction Notice – May 16th 2024

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

Gateway Fee Burn

20,825.67 POKT of gateway fees was burned (tx) corresponding with last week’s gateway fees. See the distribution of per-gateway relays here.

Parameter Changes

1. RelaysToTokensMultiplier parameter change

Following PUP-32: ARR, we have updated the RelaysToTokensMultiplier parameter value to 422 (0.000422 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 ~521M, 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 3.19, reflecting the average bin of servicers.

3. SupportedBlockchains parameter change

The following chains were allowlisted:

  • 7A10 - Taiko Hekla Testnet
  • A0CB - celestia-consensus-archival
  • A0CC - celestia-testnet-da-archival
  • A0CD - celestia-testnet-consensus-archival
  • BE2A - Experimental

Note: Blast Archival (A090) was omitted from this transaction so another transaction was submitted to restore its place in the allowlist.

DAO Payments

  • ERA Allocation Withdrawal tx
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