Proposal #90

Fix Interlay Escrow Rewards

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This proposal has been turned into referendum.
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Could someone please clarify
"reduce RewardPerBlock to 261148158032" What is the rewardPerBlock now, how lower will be in %, if the ref passes?

What does year 2, 3, 4 mean? It mean the next years or since launch?
When is the end of year 4, when rewards would be planned to cease?

Up 3

They had said that the increased rewards would be for 265 days, with this it is not clear to me how the staking and rewards system would operate.
So clarify it, please.

Up 2

I suggest formulating proposals giving the exact block where things should happen or have happened
(this can be checked on the block explorer). I don't know when years 1, 2, etc. are.
Why will we vote to stop rewards at the end of year 4 if there is a staking option to always increase the period by one week?


Up 1

As described in the proposal there was a bug in the previous distribution which means we are distributing too many rewards (that actually don't exist) and eventually this will put the system into an invalid state. As we saw on Kintsugi this could mean that you are unable to withdraw rewards eventually because there are not enough funds remaining.

After this proposal the system will still have increased rewards for the rest of Year 2 as planned (although slightly reduced to account for the bug) and then Year 3 and 4 will have the amount outlined in the original whitepaper. We will review the reward distribution for Year 5 and later at a future date.

Up 1

As agreed in the initial token distribution the default emission period is one year - 2628000 blocks as calculated according to the expected block time. Here is a precise timeline based on those increments and also the redistribution (proposal 86):

What has happened:

529634 - transfer (125000000000000000)
529635 - update (RewardPerBlock: 47564687975) "Year 1"
3157634 - transfer (125000000000000000)
3157635 - update (RewardPerBlock: 56557541660) "Year 2"
3912529 - transfer (411510886850466540) + update (RewardPerBlock: 270703769664) "Changing vault reward structure"

What should happen:

4400000 - update (RewardPerBlock: 261148158032)
5785634 - remove
5785635 - transfer (125000000000000000) + update (RewardPerBlock: 47564687975) "Year 3"
8413634 - remove
8413635 - transfer (125000000000000000) "Year 4"
11041635 - update (RewardPerBlock: 0)
Up 1

Now I understand, although I didn't have time to change my vote because the voting period closed.
I think ambiguous interpretations arise from communication.
Now that I understand it, it seems perfect to me.
Go Interlay!

Up 2