SCCP-196: Pause Increase in Base Inflation
| Author | |
|---|---|
| Status | Implemented |
| Type | Governance |
| Network | Ethereum & Optimism |
| Implementor | TBD |
| Release | TBD |
| Proposal | Loading status... |
| Created | 2022-05-10 |
Simple Summary
This SCCP proposes to pause the growth in baseInflation and keep it at it's current level of 2.23m snx per week.
Abstract
baseInflation is currently being increased every week by 10%, as per condition laid out in SIP-202 that aims at raising the staking ratio.
Motivation
The recent trend in staking ratio numbers show lackluster growth in staked SNX. Therefore, this sccp proposes to halt inflation at it's current levels. The table below show cases the staking ratio, with the numerator being the SNX staked and denominator total SNX in escrow and circulation. SNX Staked is the total amount of SNX held by wallets that have at least 1 sUSD worth of debt. Worth noting that similar numbers, but more volatile, are seen when looking at the real amount of snx staked (i.e. excludes those that can transferred out from individual addresses).
| Date | ethereum | optimism | total |
|---|---|---|---|
| 01-Mar-22 | 63% | 96% | 68% |
| 07-Mar-22 | 63% | 96% | 68% |
| 14-Mar-22 | 63% | 97% | 68% |
| 20-Mar-22 | 65% | 97% | 70% |
| 26-Mar-22 | 66% | 97% | 71% |
| 05-Apr-22 | 65% | 97% | 71% |
| 13-Apr-22 | 62% | 98% | 68% |
| 06-May-22 | 67% | 97% | 73% |
| 11-May-22 | 67% | 97% | 73% |
Copyright
Copyright and related rights waived via CC0.