IIP: 2
Title: Increasing Daily Epoch Reward Amount to 450K IOTX
Author: Zhijie Shen ([email protected])
Discussions-To: https://discord.gg/NxMKT5A
Status: Final
Type: Standards Track
Created: 2019-06-08
When IoTeX MainNet was launched, only 12 out of 36 delegates came from the community, while the remaining ones are the bots. Now the number of real delegates have grown to 36. It's reasonable to motivate the community on operating the network in a further decentralized way, so that we propose to raise the epoch reward amount from 300K IOTX per day (24 epochs) to 450K.
The per epoch epoch reward is 12,500 defined in the genesis config now. The number will be adjusted to 18,750, which will make it 450,000 totally for every 24 epochs. A new block height needs to be defined, from which the new epoch reward number will be used.
The epoch reward amount adjustment will be rolled out with v0.7.2, and the hard fork will happen on 864,001-st block.
We will collect the opinion from the community to decide if we want to increase the epoch reward amount. As the on-chain voting is not ready yet, we will vote in the discord channel: https://discord.gg/NxMKT5A. The voting process is defined here: https://docs.google.com/document/d/1qAcZtNeX6vadLTXp6k1CEADVJwNv7BMZQrtQSLhgpqQ/edit.
We originally planed to increase epoch reward to 350K per day, but after discussion, we decided to increase to 450K per day directly. Another uber proposal vote that propose for this is https://member.iotex.io/polls.
2019-07-31: New epoch reward amount was activated 2019-07-19: Update the progress 2019-06-08: Created the issue 2019-06-10: Added the details 2019-06-17: Added the voting details