Proposals of #239

Stargaze Thirdening: Staking Supplement Funding

Exec Legacy Content
passed
Expected result
Turnout / Quorum
80.20% / 20.00%
Voting start 2023.12.28 at 16:12:21
Voting end 2023.12.31 at 16:12:21
94.33%
608 112 687 stars
Yes
2.69%
17 357 624 stars
No
0.01%
57 644 stars
Veto
2.96%
19 105 747 stars
Abstain

Details

Proposer
-
Total deposit
50 000 stars
Submit time
2023.12.28 at 16:12:21
Deposit end time
2024.01.11 at 16:01:21

Description

As we approach the next Stargaze Thirdening on January 1st, 2024, daily STARS emissions will be reduced by 1/3. This will have the following impact on the STARS token and it's inflation:

  • Daily emissions will drop from 730k to 487k STARS per day. This will result in a yearly inflation of 7.21% (which is lower than other major Cosmos chains like ATOM or OSMO)
  • The issued supply on January 1st 2024 will be 2.46B Stars, or put differently, 82.2% of the total supply will be issued.
  • The community pool currently holds 817M STARS, which is about 1/3 of the current supply. (POL initiatives like the Liquidity DAO, staking supplementation or a potential future fundraiser will help to downsize the bloated CP.)

Following Prop #165 - Tokenomics 2.0 6 months ago the supplement pool was funded with 18M STARS to cover for six months, this prop requests 40M STARS to be supplemented at a rate of 7.46 STARS/block which will cover 2024.

Account to be funded is the supplement pool: https://rest.stargaze-apis.com/cosmos/auth/v1beta1/module_accounts/supplement_pool

Discussion Thread: https://commonwealth.im/stargaze/discussion/14600-supplementing-stakers-for-the-emission-cut-after-the-sg-thirdening

Tokenomics Doc: https://docs.google.com/spreadsheets/d/12zFTYowqDBOlUNvfaWSvXH3mhsFKemWRuA3uqAYKpyY/edit?usp=sharing

Votes

Voter
Answer