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Implement burst threshold #138

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bxmmm1 opened this issue Nov 20, 2023 · 0 comments · Fixed by #141
Closed

Implement burst threshold #138

bxmmm1 opened this issue Nov 20, 2023 · 0 comments · Fixed by #141
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@bxmmm1
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bxmmm1 commented Nov 20, 2023

Instead of cutting off the protocol at 22%:

keep node commission constant (e.g., 5%)
increase protocol fee -> 100%
this drives LST yield to 0%
this decreases demand to stake
there will be no new ETH to spin up nodes
This is a cleaner mechanism than freezing onboarding at a certain % marketshare.

Requirements:
setTotalActiveInPos(uint256 numValidators) is a function that tells the puffer contracts how many validators are currently active. At first this will be only callable by the guardians. In the future, it will be replaced by a ZKP that proves how many active validators are on the beacon chain.

MVP

setTotalActiveInPos(uint256 numValidators) {
  if pufferProtocol.numActive > numValidators:
    $.updateFees(...) 
}
@bxmmm1 bxmmm1 self-assigned this Nov 20, 2023
@bxmmm1 bxmmm1 linked a pull request Nov 21, 2023 that will close this issue
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