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#437 WFC: Allow OpenGov to change the parameters of the burn redirect if not currently possible with upcoming inflation pallet
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This is a more narrowly focused version of WFC 403 with decision deposit placed.
v2 timed out as there was no decision deposit.
Note if allowing OpenGov to change the parameters of the burn is factored into the update to the inflation pallet it is redundant.
Background
Within the current design of Kusama and Polkadot protocols there exists a treasury and a burn mechanism, designed to incentivise the spending of accrued funds.
If the treasury ends a spend period without spending all of its funds, it suffers a 2% burn of its funds - currently standing at around 250k KSM.
This design was implemented to encourage spending and to hopefully avoid running up a large balance.
In the current 6 day spend period on Kusama 501 KSM / $8.69K will be burned unless it is utilised via spending proposals.
10% of the 2% burn (equating to 0.2% of the treasury) is redirected to the Kappa Sigma Mu society account.
The problem
This current design is hardwired into the pallets, and cannot be adjusted/controlled via OpenGov or the previous generation of calls - instead it requires a runtime upgrade.
Allowing OpenGov to changet the parameters
Given the philosophy of OpenGov to offer ultimate control of the protocol to tokenholders, it seems uncontroversial to enable this parameter to fall under the oversight of on-chain governance.
How that might work
From Hitchhooker in comments of v2.
*The burn parameters are currently set here *
*It should be quite trivial step to make the BurnDestination configurable on runtime/governance as part of the new inflation pallet. *
This WFC also covers the possibility of setting a different target for the burn.
// Step 3: Use the configurable burn destination
Box::new(pay::<Runtime, BurnDestination, dynamic_params::staking::RemainingAmount>),
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#509 KSM RFP #1 - Shielded Kusama Hub Transfers - $50k Total Prize!
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This RFP was adapted over several weeks on AAG to turn a treasury proposal in discussion to an RFP with refined scope and oversight.
To apply for the prize pls fill out this form.
Prize Pool: $43,000
Finder’s Fee: $2,000 **
Supervisors: $5,000
Supervisors (Bounty Curators)
- Flipchan
- Byte (Erin)
- James Slusser
Excess or unused funds will be returned to the treasury by Bounty Curators.
Timeline
Monday, March 17 - AAG Discussion & this forum post! ✅
Monday, March 24 - Single-ref Bounty + Curators ✅
4 Weeks after Bounty Funding - Submission Deadline Thursday
July 31 - Project Completion (Pending Kusama Hub Launch)
Project Scope
Smart Contract Development
- A Solidity-based smart contract deployed on Kusama Hub
- ZK enabled for private deposits & withdrawals
- Compatibility with all Kusama Hub assets
User Interface
- Browser-based, mobile-ready UI hosted on IPFS
- Support for: Deposits, Withdrawals, Transfers, XCM Transfers
- Compatible with popular ecosystem wallets (Nova Wallet, Talisman, Subwallet)
Anti-correlation Attack Mitigations:
- Fixed deposit amounts (e.g. 1, 10, 100, 1000 units)
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Interoperability - Ability to receive assets via XCM from any Kusama-connected parachain and transfer them to Kusama Hub for use in shielded pool.
Open-Source Delivery
- All code (smart contracts and UI) published under the MIT license
- Publicly accessible repositories Project updates shared transparently via Polkassembly, Subsquare, or Polkadot Forum from Team with Milestone deliveries
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Milestones
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** re: Finder’s Fee: this payment is set aside to incentivize a broad search for the right implementor. Finder’s Fees are paid out at time of team engagement. Teams that submit themselves can collect their own Finder’s Fee at completion of project.
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