The RelaysToTokensMultiplier parameter has now been updated to 0.008461 POKT per relay, which equates to a ~15% reduction in network-wide inflation.
As a reminder, the two WAGMI proposals (PUP-11 and PUP-13) were approved by the DAO and will manage inflation according to the following targets:
- Mar 26th: 90%
- Apr 25th: 80%
- May 25th: 70%
- Jun 24th: 60%
- Jul 24th: 50%
Where the RelaysToTokensMultiplier value that achieves these inflation target will be calculated using:
- a 30-day trailing average of daily relays at the time of each adjustment
- the total supply at the time of the proposal passing (Feb 24, 2022, 6:37 GMT), which corresponds to block height 51909, which is 945,014,988.719332 POKT. We’ll call this the Total Supply Baseline.
If daily relays changes significantly in between the above dates, we will make discretionary adjustments to smooth out the reduction of the parameter.
This inflation management framework provides nodes with stable rewards on the upside and downside. If daily relays changes drastically in either direction, we are no longer at risk of a supply shock.