PIP Name: PIP 5 - Update Paloma Inflation Parameters for Testnet-12
Status: Proposed
Author(s): @LARRY
Type: Parameter Change
Discussions-to: PIP-5: Update Paloma Inflation Parameters for TestNest-12
Created: 10/20/2022
Simple Summary
This proposal updates the inflation parameters from the default Cosmos SDK parameters for the long-term stability of the network.
Abstract
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.
Motivation
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.
Specification Overview
Update of the Cosmos-SDK parameters as outlined in the technical specification below.
Technical Specification
Paloma Proposed Parameters: Lower Inflation Parameters from Cosmos defaults.
Cosmos SDK mint:
InflationRateChange: 0.04
InflationMax: 0.07
InflationMin: 0.03
goal_bonded: 0.670000000000000000
Max supply: infinite
How to Vote on the Proposal
palomad tx gov vote 1 yes \
--chain-id paloma-testnet-12 \
--from="$VALIDATOR" \
--fees 400ugrain \
-b block
-y
Rationale
Cosmos-SDK parameter changes for inflation are standard and should make this update straightforward. No chain restart will be required.
About Paloma
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.