Proposal #128
Referendum #120

Redirect vault rewards to staking for another year

Democracy
9mos ago
5 Comments
Executed

This proposal aims to continue the increased INTR staking rewards established in Interlay ref 83 by redirecting a portion of the vault rewards to the staking pallet. Since ref 83 has expired:

  • the staking rewards block reward rate is currently 4.7564687975 INTR/block (see escrowAnnuity.rewardPerBlock())
  • the vault rewards block reward rate is currently 25.9285597057 INTR/block (see vaultAnnuity.rewardPerBlock())

We propose splitting these rewards evenly between vault operators and INTR stakers by modifying both to be 15.3425142516 INTR/block. Staking rewards are currently 12.2%, so this would boost max staking rewards to 39.5% APR. Note that the staking rewards cannot be boosted back to ~60% as in the past because the vault rewards were just reduced by 1/3.

This proposal will transfer 25,838,419 INTR from the vault rewards account to the staking rewards account, which will cover this increased staking rewards rate for 2440800 blocks or 339 more days at 12sec/block.

This proposal compensates me for 2 hours of research and discussion, testing with Chopsticks and creating the proposal. Plus $100 to caronfire for his awesome contribution in figuring out how to set state correctly. Thanks also to Sander for helping us get the call correctly setup.
2hrs x$100/hr = $200 = 19193 INTR at $0.01042/INTR
1hrs x$100/hr = $100 = 9597 INTR at $0.01042/INTR

Edited
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Votes
AyePassing thresholdNay
100%SuperMajorityApprove0%
Aye
15.71MvINTR
Nay
0vINTR
Turnout(23.16%)
15.71MvINTR
Electorate
67.85MvINTR
Passed
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Comments

9mos ago

I would like to thank you for all the efforts that led to this proposal.

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Up 3

9mos ago

Where are the people? Only 13 votes!!!

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Up 2

9mos ago

Thanks a lot for this proposal

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8mos ago

nice a little boost for a long term holder

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