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Summary

This on-chain upgrade governance proposal is to adopt the Nolus v0.6.5 update for the Nolus Pirin (pirin-1) mainnet which is currently running on v0.6.3. This upgrade introduces the following changes:

• Adjusted Inflation Rate: Following the approval of signaling proposal [Hidden link], the next step is to integrate the inflation adjustment into the base layer protocol. The inflation curve has been recalibrated to align with the proposed formula, detailed in this Medium [Hidden link].

Changes

A complete changelog can be seen in the v0.6.5 release on [Hidden link].

On-Chain Upgrade Process

When the network reaches the halt height, the state machine program of Nolus will be halted. The classic method for upgrading requires all validators and node operators to manually substitute the existing state machine binary with the new binary. Validators can coordinate with each other on Discord in advance of the release. Please use the "chat" channel under the "Validators" section. The target block for the scheduled update is 7725900 which should happen on the 9th of October, 2024 (Wednesday) at around 13:00 UTC. As a disclaimer, this is a rough estimate assuming an average block time of 3.8 seconds.

Validators can also make use of Cosmovisor to schedule the upgrade of the nolusd binary to the latest version. A sample guide to do so can be found [Hidden link]. Make sure to use the latest version - v0.6.5.