persistence

Prop 35: Change in Halving BlockHeight Parameter

Context

In proposal #23 the inflation parameters were changed, thereby effectively bringing forward the inflation halving event, which was planned to happen every 2 years following genesis.

Besides the change in parameters, proposal 23 also stated this: "If and when this proposal passes, the persistence core-1 team will also recalibrate the halving module in the next chain upgrade so that the next halving is 2 x 5,259,600 blocks (~2 years) after this proposal passes and the inflation changes are effective."

Upon reviewing the halving module and the way it works (it actually halves the inflation every X blocks, X being the halving-blockheight parameter), a more straightforward approach would be to just adjust this parameter via governance, instead of adjusting the logic of the halving module to match the block at which proposal 23 passed, then halve the parameters every 10,519,200 blocks.

Proposal

Change the halving-blockheight parameter from 12,623,040 to 10,519,200.

This will:

  • Refrain the next halving event from happening at block 12,623,040 - as agreed upon in proposal #23 because the first halving effectively happened there.
  • Schedule the next halving event to happen at block 21,038,400
  • Schedule every other halving event to happen 10,519,200 blocks later. This equals 2 times the 'blockPerYear' parameter, so approximately every 2 years, depending on block times.

Voting

  • By voting YES, you agree with the proposed change in the halving-blockheight parameter.
  • By voting NO, you disagree with the proposed change in the halving-blockheight parameter.
  • By voting NO WITH VETO, you think this is a SPAM proposal, and the proposal’s creator should lose their deposit.
  • By voting ABSTAIN, you choose not to participate in this proposal, however, you contribute to the quorum.