in preparation for the crowdloan unlock on October 24th, as discussed in <a href="https://forum.polkadot.network/t/adjusting-polkadots-ideal-staking-rate-calculation/3897">this forum post</a>, it was concluded to propose slightly increasing the ideal staking rate in Polkadot, such that the network can accommodate the new DOT that is being unlocked into the staking system, without reducing staking rewards.&nbsp;
In short, what this proposal does is:&nbsp;
For the current situation, the ideal staking rate would then be calculated as: 0.75 - min(45,60)/300 = 0.6, i.e., 60%.
You can find the full steps to reproduce the proposal in <a href="https://hackmd.io/ykunWzXYR-Kaz_cM2KNIlg">https://hackmd.io/ykunWzXYR-Kaz_cM2KNIlg</a>. It is merely a 1 liner change to the former Polkadot runtime that was version 9430.&nbsp;
The enactment time is set to <a href="https://polkadot.subscan.io/block/17840000">this</a> block, which is roughly 2 days before the funds unlock from crowdloans.&nbsp;
The corresponding fellowship referendum to whitelist the call is <a href="https://collectives.polkassembly.io/member-referenda/24">https://collectives.polkassembly.io/member-referenda/24</a>.&nbsp;

- The proposal is to slightly increase the ideal staking rate in Polkadot.
- This will help accommodate new DOT being unlocked without reducing staking rewards.
- The proposal is a small change to the Polkadot runtime.
- The enactment time is set to 2 days before the funds unlock from crowdloans.
- There is a referendum to whitelist the call.

#166 Tweak Polkadot's Ideal Staking Rate

No Active Proposals