An update on the current proposal: testing of the latest CosmWasm version with the test-net chain has just finished.
19 Sep 2022, 16:15
An update on the current proposal: testing of the latest CosmWasm version with the test-net chain has just finished.
While this waiting period is happening the code for all the technical upgrades is being finalized and tested.
While this was ongoing, we decided to modify the proposal to accommodate some of the feedback we got from the community and validators:
— Another vesting period was added after the staking contract lock period, meaning that the tokens are unlocked linearly after the lock period ends.
-6 months linear unlock
-12 months linear unlock
-18 months linear unlock
We modified the 3 staking contracts:
- 1.25 years lock duration plus 6 months vesting for 1.06x the DVPN tokens
- 2.5 years lock duration plus 12 months vesting for 1.12x the DVPN tokens
- 5 years lock duration plus 18 months vesting for 1.18x the DVPN tokens
Given the longer timeline also the DVPN amount was increased, we think the community is right when pointing out that the vesting contract unlocks would be pivotal events if done all at once, and we dont wanna bring any uncertainty to sentinel.
— Feedback from multiple validators was also received, while everybody agrees on the initial drop in inflation it was pointed out that the inflation decrease of NEXT year, is too big and sudden (dropping by 50% validators profitability) so we decided to have the next drop be of 6%.
So just to reiterate:
If this proposal passes inflation will drop by 12% to 25% as planned.
in November 23 (roughly in 12 months) inflation will then drop to 19% and 6 months later it would drop further to 13%.
Now the proposal is finalized, we will wait 3 more days for feedback on this latest changes and then post in on chain.