Proposals of #30

Adjust Blocks Per Year to 4.36M

Exec Legacy Content
passed
Expected result
Turnout / Quorum
41.02% / 40.00%
Voting start 2020.11.04 at 11:11:16
Voting end 2020.11.18 at 11:11:16
99.96%
107 762 154 atom
Yes
0.03%
32 750 atom
No
0.00%
5 093 atom
Veto
0.00%
3 289 atom
Abstain

Details

logo
Proposer
-
Total deposit
512 atom
Submit time
2020.11.03 at 03:11:05
Deposit end time
2020.11.17 at 03:11:05

Description

While the current inflation rate is set at 7%, the effective inflation rate is more like ~6.29%. This is because blocks have slowed down somewhat from ~6.5s to ~7.24s per block, and thus the current blocks per year value of 4855015 is too high. Here we propose to adjust the blocks per year value from 4855015 to 4360000 to bring it in line with current block times, which should realign the effective inflation rate. More details were drafted on Github (https://github.com/cosmos/governance/tree/master/proposals/2020-10-blocks-per-year) and are available on IPFS (https://ipfs.io/ipfs/QmTkzDwWqPbnAh5YiV5VwcTLnGdwSNsNTn2aDxdXBFca7D/example#/ipfs/QmTZ3R4W2odBsx6hpt7awfRTfZA67x5eQaoL6ctxBr6NyN)

Votes

Voter
Answer