Agoric

Smart Contracts

Proposal Details

Proposal #6

Passed

Proposal title

Enable Staking Rewards

Submit time

Deposit end time

Voting start time

Voting end time

Tally result

98.97%

Proposal #6 description

A portion of BLD sold in the public sale in December 2021 will unlock at the start of July. Ahead of BLD unlock, staking rewards should be turned on to ensure network operation. BLD stakers also receive rewards in IST based on fees earned by the protocol. Over time, IST fees may become the primary reward for BLD stakers. However, as these fees will grow with the Inter Protocol, it will take time for them to become sufficient to operate the network on their own. Therefore, BLD issuance will be used for rewards until that time. BLD issuance should be managed by governance to not overspend, and therefore should be set conservatively and increased as needed. Additionally, this proposal will adjust several other key parameters regarding chain operation and governance to prepare for the launch of Mainnet 1. See also https://commonwealth.im/agoric/discussion/5797-staking-rewards-and-genesis-parameter-updates

Proposal #6 overview

Total votes
1,584
Voters
1,483
Total deposit
0 BLD