feat: accounting for inflation update in tokenomics #200
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kupermind
commented
Jan 7, 2025
kupermind
commented
- Accounting for inflation update in tokenomics.
| if (msg.sender != owner) { | ||
| revert OwnerOnly(msg.sender, owner); | ||
| } |
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This can be called by owner at any time, as the logic below accounts for it.
| maxBond = uint96(curMaxBond); | ||
| effectiveBond = uint96(curEffectiveBond); | ||
| inflationPerSecond = uint96(curInflationPerSecond); |
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These are critical values that need to be updated.
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So we only need to do this for bonding?
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Correct, bonding is the only one that is issued as a credit for epoch, the rest is end-of-epoch-computed.
| @@ -251,7 +251,7 @@ module.exports = { | |||
| settings: { | |||
| optimizer: { | |||
| enabled: true, | |||
| runs: 1500, | |||
| runs: 750, | |||
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Need to reduce optimization iterations in order to fit into deployment size
| // Revert if the year changes within the next epoch as it requires more complicated set of calculations | ||
| if (numYears > currentYear) { | ||
| revert Overflow(numYears, currentYear); | ||
| } |
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hm - can you be more explicit what happens then?
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When the year changes, the complex re-calculation of inflation before the exact second year end and the rest of the epoch happens, so it's better to avoid to perform another change during that time.
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Please add as much detail in the contract comment for future
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| // Ensure effectiveBond is bigger than maxBond | ||
| uint256 curEffectiveBond = effectiveBond; | ||
| uint256 curMaxBond = maxBond; |
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max amount that can go for bonding per epoch.
| // Adjust effective bond by reducing it with the on-going epoch maxBond value | ||
| curEffectiveBond -= curMaxBond; | ||
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| // Recalculate inflation per second based on the updated current year inflation |
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If the curve hasn't changed, the value will be the same as before right? We should have a test
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Let's add this as a comment to the contract and also write a test for it
| maxBond = uint96(curMaxBond); | ||
| effectiveBond = uint96(curEffectiveBond); | ||
| inflationPerSecond = uint96(curInflationPerSecond); |
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So we only need to do this for bonding?
| } | ||
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| // Adjust effective bond by reducing it with the on-going epoch maxBond value | ||
| curEffectiveBond -= curMaxBond; |
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maxBond is given as a credit for epoch, so we need to subtract what is already given in the current epoch based on previous inflation, and add it again later based on a new inflation.
contracts/Tokenomics.sol
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| curEffectiveBond -= curMaxBond; | ||
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| // Recalculate inflation per second based on the updated current year inflation | ||
| uint256 curInflationPerSecond = getInflationForYear(currentYear) / ONE_YEAR; |
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@kupermind @mariapiamo
Is there some unaccounted/side effect between the current implementation, when it changes strictly once a year and in the constants there is a mutually agreed table of inflation per year with the fact that now inflation can change an arbitrary number of times during the year.
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We just need to give an extra buffer accounting for the current inflation and for the time when it's going to change to another one.
contracts/Tokenomics.sol
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| curEffectiveBond -= curMaxBond; | ||
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| // Recalculate inflation per second based on the updated current year inflation | ||
| uint256 curInflationPerSecond = getInflationForYear(currentYear) / ONE_YEAR; |
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Needing new implementation getInflationForYear()
