This is to propose the idea that Gavin brought forward recently, except with a maximum DOT supply of 2.91 billion (double the current total supply), instead of 3.14 billion, with a yearly 10% issuance of the remaining supply.
As Gavin said, "it provides a nice very shallow curve, going from the rewards that are happening at the moment, into a fixed final amount model, that isn't too aggressive."
Queued video of Gavin discussing his idea: https://www.youtube.com/watch?v=O3kRAVBTkfs&t=5613s
The following spreadsheet lists the yearly issuance: https://docs.google.com/spreadsheets/d/1GklNdkrFETbzhP2TiahGjmlwkSyAn3NNOMXc9PmBwzc/edit?usp=sharing
Gavin's idea creates fiscal certainty and predictability with regard to the DOT supply, along with less unintended consequences.
Question: Why was Gavin's pi * billion figure not followed?
Answer: Gavin suggested the timing be for next year and pi * billion, as 50% (1.57 billion) would be the approx supply at the time, so no reduction of rewards in the first year.
This proposal requests that the change be made this year instead, and the slightly reduced max supply (2.91 instead of 3.14) will also mean no reduction of rewards in the first year (2.91 billion * 50% = 1.455 billion remaining * 10% = 145 million inflation).
Of course this is just a wish for change ref, so is a way for the community to show their support or not, for Gavin's idea.
Question: Why, in your opinion, the change should start this year?
Answer: This wish for change is that we don't need to wait until next year. I feel the sooner the max supply is fixed the better, as per the proposal description, including fiscal certainty and addressing fears of overdilution, and no reduction in rewards the first year.
Question: Why with slight different values?
Answer: Pi * 1 billion works perfectly if it's implemented mid next year (Gavin's timing), when the supply would be approx half at 1.57 billion, so again no reduction in rewards the first year.
If we were to use the same max supply this year, then the inflation would be a greater amount. Eg. 3.14 billion - 1.455 billion = 1.685 billion * 10% = 168.5 million inflation (instead of 145 million).
This is to propose the idea that Gavin brought forward recently, except with a maximum DOT supply of 2.91 billion (double the current total supply), instead of 3.14 billion, with a yearly 10% issuance of the remaining supply.
As Gavin said, "it provides a nice very shallow curve, going from the rewards that are happening at the moment, into a fixed final amount model, that isn't too aggressive."
Queued video of Gavin discussing his idea: https://www.youtube.com/watch?v=O3kRAVBTkfs&t=5613s
The following spreadsheet lists the yearly issuance: https://docs.google.com/spreadsheets/d/1GklNdkrFETbzhP2TiahGjmlwkSyAn3NNOMXc9PmBwzc/edit?usp=sharing
Gavin's idea creates fiscal certainty and predictability with regard to the DOT supply, along with less unintended consequences.
Question: Why was Gavin's pi * billion figure not followed?
Answer: Gavin suggested the timing be for next year and pi * billion, as 50% (1.57 billion) would be the approx supply at the time, so no reduction of rewards in the first year.
This proposal requests that the change be made this year instead, and the slightly reduced max supply (2.91 instead of 3.14) will also mean no reduction of rewards in the first year (2.91 billion * 50% = 1.455 billion remaining * 10% = 145 million inflation).
Of course this is just a wish for change ref, so is a way for the community to show their support or not, for Gavin's idea.
Question: Why, in your opinion, the change should start this year?
Answer: This wish for change is that we don't need to wait until next year. I feel the sooner the max supply is fixed the better, as per the proposal description, including fiscal certainty and addressing fears of overdilution, and no reduction in rewards the first year.
Question: Why with slight different values?
Answer: Pi * 1 billion works perfectly if it's implemented mid next year (Gavin's timing), when the supply would be approx half at 1.57 billion, so again no reduction in rewards the first year.
If we were to use the same max supply this year, then the inflation would be a greater amount. Eg. 3.14 billion - 1.455 billion = 1.685 billion * 10% = 168.5 million inflation (instead of 145 million).
Threshold
Threshold