Indeed I’d like to explain it a little bit, in my opinion the biggest feeling of the atom 2.0 paper is that well after reading it I kind of felt that it obfuscated increases to inflation I think a lot of other people felt that way as well and for a minute I was kind of upset about it and then I realized it had a pretty easy solution, one could literally just mint them all in one batch and then what you get is clarity that section in particular suffered from a lack of clarity.
Also the number itself was intended to be a little bit of a non sequitur, here’s how it came about:
- my friend worked out this:
see how in year one 56,253,799 hits the treasury?
Simply minting at upgrade height is much easier and it strips the wp of fairly needless math – and – big perk – it becomes clearer. Community members shouldn’t need to put together docs on the numbers and piece them together by guesswork, but that’s the current state of the wp.
why 69,420,808?
69 - nice
420 - 
808 - 
- after the musical instrument
Here’s the tweet thread: https://twitter.com/gadikian/status/1577112480559804416?s=20
The other saying that doing it all in one batch can due to improve the clarity of the proposal overall is that we could have that one batch and then remodel the mathematics about the 100 million per month which I think includes the current level of inflation-- that section of the paper still isn’t fully clear even to me. So I don’t know if you saw any of my tweets on the matter but basically:
- before learning how the inflation works because a friend of mine modeled it, I was highly supportive, I think there are good concepts in 2.0.
- After learning about the inflation changes I kind of freaked out a little bit and actually kind of felt rug pulled in terms of supporting it at all.
- then I talked to several people about the inflation characteristics because many people were telling me that I was simply wrong but I still felt rug pulled
- what I didn’t realize was that treasury funds aren’t dilutive when they’re in the treasury, they’re dilutive when they exit the treasury and if they bring returns and enhance protocol onwned liquidity then the dilution is canceled out.
- so I came full circle but then I realized that 2.0 shouldn’t pass and its current form if I can read the section on inflation changes and not get it very very few people can get it and it means we found a bug
further food for thought
- 2.0 isn’t a minimal hub
- the social coordination features on the allocator are
- I’m pretty sure that the driving force behind 2.0 is to attempt to leave inflation behind and I really like that
- more complexity means more risk
- the inflation add some more risk too, and we need to express it in a way that people can understand or it’s probably not a very good idea at all
- I can really only vote yes on what I can understand and promote a yes on what I can understand so what I’d like to do
my current understanding on liquid staking
the impact on security ought to be nil, because the underlying atoms can be slashed. I do have some questions about what happens to liquid staked atoms when they hit – for example, osmosis though. Is a slash just reflected in the price of the liquid staked asset?
I am not sure that liquid staked atoms that are transmitted to osmosis can be slashed, though I’d like ton get feedback on that.
update
I don’t want a billion dollars in a standard sdk multisig.
I may have misunderstood the wp.
I withdraw support and encourage others to veto until the chain of custody is clear in the whitepaper. Gov can veto the group, not the SendTx from the multisig wallet. Also, one of the reasons given for not updating the ICF delegations was the inability to do multisig transactions and I get it, it is legit hard.
I do not want community members in harms way.
How’s that for a non sequitur?
https://twitter.com/gadikian/status/1577522325783707649?s=20&t=vKxAFa-kfs75tFQV_Cr4NQ
NB: all the upsides I mentioned still exist but we should not take north korea risk with the treasury.
NB: where is the paper source code?
The paper is written latex, a document compiler. The paper is not open source, only the binary has been released.