Added tokenomics DRAFT to discuss #88
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| # Tokenomics [DRAFT] | ||
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| ## Initial Total Supply | ||
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| `1 Billion GGX` | ||
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| `1 GGX ~= 0.05 USD` | ||
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| `18 decimals` | ||
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| All amounts in this document are in GGX. | ||
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| ## APY | ||
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| Schedule of APY will be next: | ||
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| | Date | Yearly APY** | | ||
| | -----|-----------------------| | ||
| | 2023 | 14.93% | | ||
| | 2024 | 13.93% | | ||
| | ... | ... | | ||
| | 2028 | 11.31% | | ||
| | ... | ... | | ||
| | 2043| 4% | | ||
| | ... | ... | | ||
| | 2053 | 2% | | ||
| | 2054 | 2% | | ||
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| ** decreases by 6.7% per year | ||
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| After 30 years the APY stabilizes at 2% | ||
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| ### Current State | ||
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| * Initial total supply is distributed to active nodes for now. | ||
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Contributor
There was a problem hiding this comment. to single node wrpapped by multisig |
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| * 18 decimals is done. (configured by MILLIGGX) | ||
| * APY configured to 16%. (configured by runtime/mainnet/src/pos/currency.rs InflationPercent) | ||
| * APY decrease ladder scheduled for the runtime. | ||
| * APY decrease happens every 365.25 days to address leap years. (configured by runtime/mainnet/src/pos/currency.rs InflationPercentDecay) | ||
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| ## Staking | ||
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| Each new validators when enters `PoS` with `200 thousands` staked for `1 year`. | ||
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Contributor
There was a problem hiding this comment. Also, bond withdrawal takes a year.
Contributor
Author
There was a problem hiding this comment. @akorchyn Is 1 year is something we have defined in chainspec? |
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| Staking rewards are distributed each session. | ||
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| `Session period = 4 hours` | ||
| `Election period = quarter` | ||
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| ### Slashing | ||
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| | Misbehavior | Amount | Parameters | | ||
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Contributor
There was a problem hiding this comment. This section wasn't really defined clearly. It just random values as TBD, that never happened.
Contributor
Author
There was a problem hiding this comment. @akorchyn What we can do with it, any suggestions? Just to remove the section completely or we can somehow defined these values?
Contributor
There was a problem hiding this comment. Up to you. I guess it's better to define it, but we can ignore this section for now.
Contributor
There was a problem hiding this comment. current implementation in code is 16-17% for slashing upon validators for both Brooklyn and Sydney |
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| | ------------| -------| ------------------ | ||
| | Consensus Offline | 0.01% to 44% * Stake | starting from 10% validators offline linear increase | | ||
| | Consensus Equivocation for Blocks (Double Sign) | 0.01% * Stake | TBD | | ||
| | MPC Signature (Wrong message) | 0.01% * Stake | TBD | | ||
| | MPC Key Generation (Failure to Participate) | 0.001% * Stake | TBD | | ||
| | Early Unstake | 10% * Stake | TBD | | ||
| | ...TBD... | ...TBD... | | ||
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| Slashed amounts are sent to treasury. | ||
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| ### Nominations | ||
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| | Account | Part | Type | | ||
| | ------- | ---- | ---- | | ||
| | Validator** | 5% | Fixed comission | | ||
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Contributor
There was a problem hiding this comment. It is not fixed anymore and is defined as the median value from validators' preferences.
Contributor
Author
There was a problem hiding this comment. Any suggestions how better to write it then?
Contributor
There was a problem hiding this comment. I think we can put a
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| | Nominator + Validator** | 95% | Shared between nominators and validator | | ||
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| ** 10% of validators rewards go to Treasury | ||
| | Account | Part | | ||
| | --------- | ---- | | ||
| | Validator | 90% | | ||
| | Treasury | 10% | | ||
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| ### Current state | ||
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| * 1 year withdrawal lock is implemented. | ||
| * Session period is 4 hours. Era period is quarter. | ||
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| (configured by `EpochDurationInBlocks`, `SessionsPerEra`). | ||
| * Payout at the end of the session. Configured by runtime/mainnet/src/pos/session_payout/mod.rs | ||
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| * Median commission to nominators from validator preferences calculated each session. | ||
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| Static commission can be enabled by referenda. Configured by runtime/mainnet/src/pos/session_payout/mod.rs | ||
| * 10% Treasury comission is implemented. (configured by runtime/mainnet/src/pos/currency.rs `TreasuryCommission`) | ||
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| ## Rewards | ||
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| ### From Transaction Fees | ||
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| | Account | Part | | ||
| | -------- | ----- | | ||
| | Treasury | 100% | | ||
| | Validator (block producer) | 0% | | ||
| | Burn | 0% | | ||
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| Fees are distributed each block. | ||
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| ### From transaction tips | ||
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| | Account | Part | | ||
| | -------- | ----- | | ||
| | Treasury | 25% | | ||
| | Validator(block producer) | 75% | | ||
| | Burn | 0% | | ||
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| ### Current state | ||
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| * Done | ||
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| ## Fees | ||
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Contributor
There was a problem hiding this comment. Fees are also not defined properly. To be honest, somebody needs to benchmark runtime on our preferred node configuration (CPU, RAM, etc) |
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| | Category | Type | Amount | | ||
| |------|--------|-----------| | ||
| |Transaction | 1 second of execution(or equivalent prove size)| 10000 | | ||
| |Transaction | MPC signatrue | 100 | | ||
| |Storage | ED for account | 0.1 | | ||
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| Proper fees to be defined. | ||
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| ## Parameters configuration | ||
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| Parameters can be changed by OpenGov. | ||
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| ### Current state | ||
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| * Implemented most of it. | ||
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We probably can't ensure this...
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Lets remove it maybe