PIP Name: PIP 5 - Update Paloma Inflation Parameters for Testnet-12
Type: Parameter Change
Discussions-to: PIP-5: Update Paloma Inflation Parameters for TestNest-12
This proposal updates the inflation parameters from the default Cosmos SDK parameters for the long-term stability of the network.
Lower inflation parameters of the Paloma Chain for Testnet-12 so that we have the same inflation parameters that the flock enjoyed on Testnet-11.
Paloma needs a good tokenomics model that balances inflation/emission, validator incentives and other token holders’ valuation stability. The objective of this parameter change is to update the economics of Paloma so that the focus on fee revenue generation from compute and storage activities becomes a priority for validators on Paloma.
Update of the Cosmos-SDK parameters as outlined in the technical specification below.
Paloma Proposed Parameters: Lower Inflation Parameters from Cosmos defaults.
Cosmos SDK mint:
Max supply: infinite
palomad tx gov vote 1 yes \ --chain-id paloma-testnet-12 \ --from="$VALIDATOR" \ --fees 400ugrain \ -b block -y
Cosmos-SDK parameter changes for inflation are standard and should make this update straightforward. No chain restart will be required.
Paloma Protocol is a Cosmos-SDK blockchain protocol custom-built for omnichain communication that allows permissionless controls of any contract on any chain. Built by Volume, Paloma delivers the world’s first intelligently scheduled and automated smart contract transaction execution for the Cosmos ecosystem. The protocol enables developers to remotely control the transmission of value without the need to wrap, bridge tokens, or trust validators with their digital assets. Led by founding members of Sommelier, Paloma is building the primary communication layer of Web3.