Overview
This proposal aims to implement the changes of the The Great Celo Halvening by setting the right configuration parameters. These changes were already approved by a temperature check.
This proposal is meant to be proposed before the network transitions to an L2 and timed so that it's ready to be executed shortly after the transition.
It also stablishes the committee to watch RPC nodes performance, and their respective compensation as described in the forum.
Proposed Changes
- Set the max voting yield
- Destination: EpochRewards
- Data: setTargetVotingYieldParameters(
uint256 max=250000000000000000000,
uint256 adjustmentFactor=0
)
- Value: 0
- Set the target voting yield
- Destination: EpochRewards
- Data: setTargetVotingYield(uint256 targetVotingYield = 50750000000000000000)
- Value: 0
- Set RPC nodes rewards
- Destination: EpochRewards
- Data: setTargetValidatorEpochPayment(uint256 value = 82191780820000000000 (82.19 cUSD per day))
- Value: 0
- Carbon offset epoch reward
- Destination: FeeHandler
- Data: setCarbonFraction(uint256 newFraction = 100000000000000000000000)
- Value: 0
- Set base fee distribution
- Destination: FeeHandler
- Data: addOtherBeneficiary(
address beneficiary = 0x7A1E98FC9a008107DbD1f430a05Ace8cf6f3FE19,
uint256 _newFraction = 900000000000000000000000,
string calldata name = "cLabs"
)
- Value: 0
- Set carbon fund
- Destination: EpochRewards
- Data: setCarbonOffsettingFund(address partner = 0xCe10d577295d34782815919843a3a4ef70Dc33ce,
uint256 value = 500000000000000000000)
- Value: 0
- Make the comission update five times longer as long (block time is 5 times faster on L2)
- Destination: Validators
- Data: setCommissionUpdateDelay(uint256 delay = 259200)
- Value: 0
- Set RPC slasher
- Destination: GovernanceSlasher
- Data: setSlasherExecuter(address _slasherExecuter = 0x68ce71d4CECA3003701ca6844D9a345925407455)
- Value: 0
- Set RPC score commitee
- Destination: ScoreManager
- Data: setScoreManagerSetter(address _scoreManagerSetter = 0x68ce71d4CECA3003701ca6844D9a345925407455)
- Value: 0
- Fund RPC manager comitee
- Destination: StableToken
- Data: approve(address spender = 0x68ce71d4CECA3003701ca6844D9a345925407455, uint256 value = 36000000000000000000000 (36K cUSD))
- Value: 0
Verification
Current parameters can be checked with:
$ celocli network:parameters -n https://forno.celo.org
They should be consistent with the adjustment described in this proposal:
$ celocli governance:show --proposalID $PROPOSAL_ID --jsonTransactions release-12-proposal.json --node https://forno.celo.org
Risks
Highlight any risks and concerns that may affect consensus, proof-of-stake, governance, protocol economics, the stability protocol, security, and privacy.
Useful Links
- The Great Celo Halvening: https://forum.celo.org/t/the-great-celo-halvening-proposed-tokenomics-in-the-era-of-celo-l2/9701