GGP 0033: Increase L2 rewards to 95%

GIP: 0052

Title: Timeline and requirements to increase rewards in L2

Authors: Pablo Carranza Vélez, Ariel Barmat, Tomás Migone

Since GIP-0031 and GIP-0040 have been deployed, The Graph now runs the protocol on both Ethereum Mainnet (L1) and Arbitrum One (L2). Participants are free to perform actions on either chain, and as GIP-0037 and GIP-0043 have been rolled out, indexing rewards in L2 are enabled and set at 50% of total issuance.

Transfer tools have also been deployed as per GIP-0046 to allow participants to transfer their stake, delegation, subgraphs and curation to L2.

GIP-0052 depends on GIP-0046 and proposes increasing the indexing rewards in L2, in several steps until fully transitioning protocol issuance to Arbitrum One. This GGP proposes approving the third step, increasing issuance in Arbitrum One to 95% of total issuance (and reducing it in L1 accordingly), on November 27th, 2023, if no blocking issues are reported before then.

Following a successful vote of this proposal, the following transactions will be executed:

• The increase of L2 rewards to 95% of total issuance (114.6935 GRT per block) will be on Arbitrum One on November 27th.
• Reducing L1 issuance to 5% (i.e. 6.0365 GRT per block) will be executed at the same time.
• The L1 bridge mint allowance will be adjusted accordingly afterwards.