The following transactions were executed this week on behalf of the DAO.
Gateway Fee Burn
197,698.92 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 485 (0.000485 POKT/relay) to target a daily emissions value of 610k POKT (corresponding with the SER emission schedule).
This was calculated based on a Trailing 7-day Avg Daily Relays of ~1.257B, 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 14.75%. For reference, the total supply as of Jan 1st 2023 was ~1.51B and the current total supply is ~1.608B.
2. ServicerStakeWeightMultiplier parameter change
Following PUP-21, we have adjusted the SSWM parameter to 2.735, reflecting the average bin of servicers.
DAO Payments
PEP-59: Sponsor Encode Club Bootcamp Series was paid out. (tx)