This proposal enacts the new 1.11.1 runtime for Spiritnet. For more details about the new runtime, please check <a href="https://github.com/KILTprotocol/kilt-node/releases/tag/1.11.1" target="_blank" rel="noopener">the GitHub release notes</a>, 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.
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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.

- There is a proposal to update the Spiritnet runtime.
- The referendum is about making some changes, like extending rewards for a year and recalculating the deposit.
- The rewards for delegators would be 5.1% instead of 0%.
- The deposit might increase depending on how much the service is used.
- If the service is used less, the extra deposit will be refunded.

#33 KILT Node 1.11.1 (Multisig Marvel)

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