Summary
In OIP-85, the community voted in favor of reducing the reward rate to the bottom of the current tier (0.1186%) when certain criteria are met. Unfortunately, the set of criteria listed in that proposal were too ambiguous to actually be implemented by the policy team.
Motivation & Proposal
The rationale for emissions reduction is covered well in the initial RFC and subsequent forum post for OIP-85.
This proposal is to reduce the current reward rate, which was set out in OIP-18 with the expectation that emissions at the current reward rate (0.1587%) would be needed to offset dilution from bonds. When reserve bonds are paused, as they are currently, the significant decrease in dilution from bonding activity allows for emissions to be reduced.
Polling Period
The polling process begins now and will end at 00:00 UTC on 24/04/2022.
Poll
- Yes, reduce the reward rate to 0.1186% when reserve bonds are paused. Return to the reward rate of 0.1587% when reserve bonds are reactivated.
- No, do nothing.