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The Graph CouncilThe Graph Councilby0x37BC95e38235Ec42F185E945922a4E2C9795B391brandonramirez.eth

GGP-0013: Decrease protocol issuance rate to keep annual issuance at 3%

Voting ended over 3 years agoSucceeded

Indexing rewards in The Graph utilize a parameter that defines issuance rate of GRT per block. After The Merge, block generation is now faster along with the effective issuance rate. Ethereum now has 2628000 blocks a year instead of approximately 2425846, which at the current per block issuance rate will lead to yearly 3.2% rate, rather than The Graph's original 3% annnual issuance rate.

This proposal is to update the issuanceRate parameter of The Graph’s protocol smart contracts running on Ethereum Mainnet from the current 1000000012184945188 to 1000000011247641700

Forum discussion: https://forum.thegraph.com/t/indexing-rewards-and-the-merge/3523

The update must be performed by initiating a RewardsManager.setIssuanceRate() transaction with the proposed value on Ethereum Mainnet.

Following a successful “yes” vote, the protocol update should be carried out at the earliest convenience using The Graph Council’s Gnosis Multisig.

Off-Chain Vote

For
6 GC100%
Against
0 GC0%
Abstain
0 GC0%
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Timeline

Oct 18, 2022Proposal created
Oct 18, 2022Proposal vote started
Oct 24, 2022Proposal vote ended
Oct 26, 2023Proposal updated