Infrastructure Bill Wish List

Here is a list of modifications to the Secret Network chain on my wishlist.

  • Scheduled parameter changes. These could be special proposals that would trigger pram changes once certain conditions are met. Examples: Scheduled changes to max/min inflation, foundation and community taxes, max validators. These could change based on variables such as a certain block height or certain supply reached.
  • Multi spend recipient proposals. This would enable proposals to pass that had multiple recipients for unique amounts. An example use case could be funding that involves multiple individual entities/people doing work.
  • Tiered staking roi: We could add a set of parameters the network could adjust to make it so we could customize roi based on how long an account locks up for. One possible implementation would be to have a default bond length (21 days?) then options to pass a different lockup window (perhaps as low as a week?) and accept a lower weight of roi split between stakers, then an option to pick a longer lockup window (perhaps a year?) and capture a higher weight of reward split between delegators. Ideally max and min bond window would be adjustable parameters.
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Hi Ian,

I second supporting points one and two. Both of those additions would be a plus to the network.

The third one is lucrative as well but more questions pop into my head. Currently, we go by standard lock time of 3 weeks for unbonding before they move to circulate supply.

  1. In a case scenario, lets say 80% of the staker’s decide a lock period of 1 year for themselves would the rewards decrease, as a lot of stakes are eyeing long-term holding?
  2. Would the network inflation increase/decrease or vary if the rewards distributed are uneven (based on locked time)?
  3. Are tokens automatically unbonded after a long period of time, or do they continue staying bonded but returns are stabilized?

This also brings me to another interesting point about network inflation currently we are set at 15% should we consider having a long-term strategy of reducing inflation over time, so that SCRT creates more value over a longer period.

“The declining inflation rate on the staking returns” has been adopted in both Akash and Sentinel networks and would also benefit the Secret Network (SCRT) token.

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I’m not married to the idea of tiered staking. It does have a lot of implications that need to be thought through.

In what I was suggesting inflation would not change no matter how long you decide or the majority decides to stake, Those staking for longer lock up periods would simply collect a higher share of the pie split between delegators. I am not suggesting inflation should increase if the majority of participants lock up for longer periods.

Does that make sense?

And I think inflation should lower but I do not trust the Foundation will ever lower the tax if we lower inflation first. It is the primary leverage point and both should be adjusted at the same time.