#24 KILT Node 1.11.1 (Multisig Marvel)
This proposal enacts the new 1.11.1 runtime for Spiritnet. For more details about the new runtime, please check the GitHub release notes, which also contains the output of the SRTool to verify that the code hash submitted as part of the proposal matches the hash of the new runtime WASM code.
The current referendum is on one upgrade that would include all the things mentioned, including extending delegator rewards for a year and recalculating the deposit. The delegators rewards would be 5.1% instead of the planned 0% for the third block year (staying in line with the initial Token Economy). Re: the deposit update: Since the service endpoints would each support 2 URLs, the maximum DID size would also be bigger than before. To accommodate, the base deposit of around 2 KILT would remain, but the deposit could increase depending on heavy usage (calculated automatically if you rotate/add keys or add service endpoints). For example, having 25 service endpoints would increase the deposit needed, up to a maximum of 4 KILT. If you later delete the service endpoints and the DID gets smaller again the extra deposit would be automatically refunded.
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mwbezIf the proposal doesn't pass, what will become of the tokens earmarked for a further year of delegator rewards? Based on 73.4 million tokens currently staked, the targetted 5.1% rewards seems to mean around 3.7 million tokens (please correct me if far wrong).
For instance, will they remain unminted, reducing the total supply; or is the total supply fixed and so they must be reallocated somewhere, such as to Collators or the Treasury?
If the latter, what would that look like? E.g. Collator rewards % becomes increased proportionally over the same one year period (next block year) so that block year 3 ends with the supply where you hoped? Or, emission rates remain unchanged but these 3.7 million tokens extend the Collator reward period and emerge into circulation many years down the line?
Or something else altogether, perhaps?
Thanks,
Aye
Aye
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