Proposal #531
Passed on 18 Jun 2023 with 91.6% of the votes for yes.
Yes
91.6%
99.5% without abstain
Veto
0.0%
of votes cast
Ended
18 Jun 2023
91.56%
of votes cast
8.01%
of votes cast
0.43%
of votes cast
0.00%
of votes cast
This is a follow-up proposal from the set of three Tokenomics proposals, implementing these parameter changes with the thirdening rather than via software upgrade.
This is Proposal 1 of 3 which will implement Proposal 485, Part 2, by reducing the weighting of incentives gauge 0 that currently goes to the community pool to 0. As incentives weighting changes take 1 epoch to change emissions, this will not impact emissions at the epoch of June 18th but will on June 19th.
Users should be aware that this will show pool APRs as being around 3x what they will be at the next epoch until that epoch has passed.
The original tokenomics proposals were: [Hidden link] [Hidden link] [Hidden link]
These proposals had a slight cut to the Max supply as well as the fact that the max supply would rely on the update date which is not fixed.
This proposal, along with 2 other proposals, would implement these Proposal results as on-chain parameter changes.
These parameter changes bring more certainty to proposal implementations rather than relying on an arbitrary upgrade date which is now later than the originally estimated May 7th in the original model and is likely to be closer to the existing Thirdening date (June 19th)
Proposal 1 is placed on chain on the 13th June, scheduled to finish on the 18th June before epoch.
This will implement Proposal 485, Part 2, by reducing the weighting of incentives gauge 0 that currently goes to the community pool to 0. As incentives weighting changes take 1 epoch to change emissions, this will not impact emissions at the epoch of June 18th but will on June 19th.
Users should be aware that this will show pool APRs as being around 3x what they will be at the next epoch.
Proposal 2 is placed on chain on the 14th June, scheduled to finish on the 19th June, before epoch.
This will adjust the Thirdening effect so that all emission reductions take place on the same epoch - the first of the next emissions period.
This proposal will implement Proposal 484 part 1, Proposal 485 Part 1, and Proposal 486 by:
Proposal 3 is placed on chain on the 14th June, scheduled to finish on June 19th, after epoch, allowing the Thirdening event to trigger. This will implement Proposal 484 Part 2:
The model of the effect on supply is here: [Hidden link]
These proposals have all been tested on localosmosis and run successfully with different implementation epochs as below, confirming which epoch respective to the thirdening epoch these parameter changes need to be implemented in to work successfully.
[Hidden link]
This translates to the following schedule as above on Mainnet: [Hidden link]
Commonwealth Thread: [Hidden link]