Clarify inflation system calculation details #230
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cwgoes
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FatemeShirazi,
junkicide,
tzemanovic,
arafey,
adrianbrink and
juped
adrianbrink
approved these changes
Aug 1, 2022
tzemanovic
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Aug 1, 2022
| - $R_{PGF}$ is the public goods funding reward rate, in units of percent per annum | ||
| - $R_{PoS-Target}$ is the target staking ratio (genesis default 2/3) | ||
| - $R_{SP-A-Target}$ is the target amount of asset $A$ locked in the shielded pool (separate value for each asset $A$) | ||
| - $EpochsPerYear$ is the number of epochs per year (genesis default 365) |
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we currently have these params
namada/shared/src/ledger/parameters/mod.rs
Line 141 in 9587152
Should we use
min_duration to estimate EpochsPerYear? We should probably make sure that min_duration > min_num_of_blocks * consensus_timeout_commit generously enough so that we're not waiting for blocks to switch epoch
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Yes, we should use min_duration to estimate EpochsPerYear (but the latter should still be constant)
tzemanovic
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LGTM! Let's add some issues for the implementation after this. I think we'll first need to add:
- the total supply to the token VP to avoid iteration (the VP can simply reject any changes to it in a transaction as only the protocol can mint tokens)
- total PoS locked tokens - we currently only have total voting power, which is lossy conversion from tokens
This was referenced Aug 16, 2022
phy-chain
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This PR updates the inflation system section of the Namada specs to clarify PD-controller calculation details.
For simplicity, I think we can just use fully separate PD-controllers for each asset in the shielded pool for which Namada decides to pay rewards. This requires that we pick parameters and caps independently, but otherwise we have to deal with contention between controllers, which is complicated and likely confusing to users, so I think it's worth the additional parameters.
Also for simplicity, I'm assuming that we do all inflation calculations once-per-epoch and quantise the PD-controllers at that frequency.