III.IV Immutable TTG Parameters

Epoch Duration

The combined length of the Voting Epoch and the Transfer Epoch. Set to 30 days.

Logic: This amount of time should be short enough to permit for timely management of the protocol, but long enough for all POWER holders to both socialize and physically vote on Standard Proposals.

Voting Epoch Duration

The length of the Voting Epoch. Set to 15 days.

Logic: This amount of time should be long enough to permit POWER holders to physically exercise their vote.

Transfer Epoch Duration

The length of the Transfer Epoch. Set to 15 days.

Logic: This amount of time should be long enough to contain the Dutch auction and for any POWER holders that may wish to perform transfers or re-delegations to do so.

Auction Duration

The length of the Dutch auction for unclaimed POWER inflation. Set to 15 days and overlaps perfectly with the Transfer Epoch.

Logic: This amount of time should be long enough to cross all conceivable prices while still promoting efficient price discovery. Note that this length matches the Transfer Epoch, so that tokens acquired in the Transfer Epoch will be included in the checkpoint for the following Voting Epoch.

Dutch Auction Exponent

The exponent with a base of 2 that determines the starting auction price. Set to 99.

Logic: This number should produce a sufficiently high starting price per POWER token such that the market price of POWER in Cash is never above this price. It should not be so high as to cause the auction to exceed the Transfer Epoch before reaching 0 given the Dutch Auction Period Time setting.

Dutch Auction Periods

The number of equal periods that must fit into the Transfer Epoch. Set to 100.

Logic: This number of periods defines how often the Dutch auction will decrease the Dutch Auction Exponent. At the current setting the Dutch auction will decrement the Dutch Auction Exponent approximately every 3.6 hours.