PIP-26: Transition from MATIC to POL Validator Rewards
Authors:
Derek Meyer @Derek_Data_Nexus
Dimitri Nikolaros @diminiko
Type: Contracts
Table of Contents:
- Abstract
- Motivation
- Implementation
- Backward Compatibility
Abstract
This PIP proposes aligning the initial POL Validator Rewards with the original MATIC Validator Rewards Scheduleintroduced during the launch of MATIC in 2020and ending in June 2025. The proposal is to continuei.e. adhere to the current MATIC reward scheduleandonce it ends (in June 2025)switch to the proposed Polygon 2.0 reward schedule. This would honor the social contracti.e. public commitmentwith regards to Polygon validator rewardsand enable smooth transition to Polygon 2.0.
Motivation
PIP-17which initiates the POL upgradeintroduces a 1% annual POL emission for validator rewards. The authors propose to complete the original commitments of the genesis MATIC Validator Rewards Schedulebefore commencing the aforementioned Polygon 2.0 validator reward schedule.
The original and proposed outline for emissions can be seen in the table below.
Proposed Emissions Schedule With Comparison:
| Year |
Dates |
Original Reward Pool |
Original POL Proposed Reward Pool |
New Proposed Reward Pool |
| First |
June 2020 - June 2021 |
312,917,639 |
- |
- |
| Second |
June 2021 - June 2022 |
275,625,675 |
- |
- |
| Third |
June 2022 - June 2023 |
246,933,140 |
- |
- |
| Fourth |
June 2023 - June 2024 |
204,303,976 |
*134,700,000 |
*201,400,000 |
| Fifth |
June 2024 - June 2025 |
160,219,840 |
101,000,000 |
150,300,000 |
| Sixth |
June 2025 - June 2026 |
0 |
102,100,000 |
103,530,000 |
*estimated using 4 months of original schedule8 months of newly proposed schedule.
Specification
Adjust the implementation of DefaultEmissionManager.sol to follow the current MATIC validator reward schedulegradually reducing the reward emission via subsequent PIPs until June 2025. In July 2025commence the Polygon 2.0 schedule of 1% annual POL emission for validator rewards.
Backward Compatibility
This change causes no identifiable backward incompatibilities.
References
Copyright
All copyrights and related rights in this work are waived under CC0 1.0 Universal.
14 Likes
Great initiative!
It makes sense for the new POL emissions to follow the previously defined schedule!
3 Likes
We agree. This looks like a good plan to us.
3 Likes