# Governance Transaction Notice – May 22nd

**URL:** <https://forum.pokt.network/t/governance-transaction-notice-may-22nd/4438>\
**Category:** Foundation\
**Created:** [May 23, 2023, 12:01am UTC](https://forum.pokt.network/t/governance-transaction-notice-may-22nd/4438 "2023-05-23T00:01:51Z")\
**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:** [May 23, 2023, 12:01am UTC](https://forum.pokt.network/t/governance-transaction-notice-may-22nd/4438/1 "2023-05-23T00:01:52Z")

</div>

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](https://poktscan.com/tx/796B75D4987EC62856D3458EE349C4F6741820352BF65E034B8A24B891D3ECE9)), corresponding with last week’s gateway fees.

# Parameter Changes

## 1. [RelaysToTokensMultiplier parameter change](https://poktscan.com/tx/247EF8C8D7CC924F24DF0BE84B9F1EEA9D8C44A1CDB44600D2056B7589F58897)

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](https://docs.google.com/spreadsheets/d/1JqA-9hgSKFl5f1A6XW1KgRtCYkZB-QcK7ih9_xwjusA/edit?usp=sharing).

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](https://poktscan.com/tx/8B0B84C740EFDF13312E9EEA56D275EB6450143211022B29726EED1435D3AA49)

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](https://forum.pokt.network/t/pep-59-sponsor-encode-club-bootcamp-series/4106) was paid out. ([tx](https://poktscan.com/tx/23A671908AF52D4BE44A093DAF7963BE8908FAD5E33448DBB2CCF336C5726D79))