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Document kavadist infra rewards in the module spec (#1369)
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# Concepts
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The minting mechanism in this module is designed to allow governance to determine a set of inflationary periods and the APR rate of inflation for each period. This module mints coins each block according to the schedule such that after 1 year the APR inflation worth of coins will have been minted. Governance can alter the APR inflation using a parameter change proposal. Parameter change proposals that change the APR will take effect in the block after they pass.
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The minting mechanism in this module is designed to allow governance to determine a set of inflationary periods and the APR rate of inflation for each period. This module mints coins each block according to the schedule such that after 1 year the APR inflation worth of coins will have been minted. Governance can alter the APR inflation using a parameter change proposal. Parameter change proposals that change the APR will take effect in the block after they pass.
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Additionally this module has parameters defining an inflationary period for minting rewards to a governance-specified list of infrastructure partners. Governance can alter the inflationary period and infrastructure reward distribution using a parameter change proposal. Parameter changes that change the distribution or inflationary period take effect the block after they pass.
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The kavadist module has the following parameters:
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| Key | Type | Example | Description |
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|------------|----------------|---------------|--------------------------------------------------|
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| Periods | array (Period) | [{see below}] | array of params for each inflationary period |
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| Key | Type | Example | Description |
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| -------------------- | -------------------- | ------------- | -------------------------------------------------------- |
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| Active | bool | true | an all-or-nothing toggle of token minting in this module |
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| Periods | array (Period) | [{see below}] | array of params for each inflationary period |
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| InfrastructureParams | InfrastructureParams | [{see below}] | object containing infrastructure partner payout params |
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`InfrastructureParams` has the following parameters
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| Key | Type | Example | Description |
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| --------------------- | --------------------- | ------------- | ----------------------------------------------------------- |
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| InfrastructurePeriods | array (Period) | [{see below}] | array of params for each inflationary period |
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| CoreRewards | array (CoreReward) | [{see below}] | array of params for reward weights for core infra providers |
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| PartnerRewards | array (PartnerReward) | [{see below}] | array of params for infrastructure partner reward schedules |
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Each `Period` has the following parameters
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| Key | Type | Example | Description |
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|------------|--------------------|--------------------------|----------------------------------------------------------------|
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| Start | time.Time | "2020-03-01T15:20:00Z" | the time when the period will start |
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| End | time.Time | "2020-06-01T15:20:00Z" | the time when the period will end |
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| Inflation | sdk.Dec | "1.000000003022265980" | the per-second inflation for the period |
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| Key | Type | Example | Description |
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| --------- | --------- | ---------------------- | --------------------------------------- |
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| Start | time.Time | "2020-03-01T15:20:00Z" | the time when the period will start |
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| End | time.Time | "2020-06-01T15:20:00Z" | the time when the period will end |
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| Inflation | sdk.Dec | "1.000000003022265980" | the per-second inflation for the period |
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Each `CoreReward` has the following properties
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| Key | Type | Example | Description |
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| ------- | -------------- | --------------------------------------------- | -------------------------------------------------------- |
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| Address | sdk.AccAddress | "kava1x07eng0q9027j7wayap8nvqegpf625uu0w90tq" | address of core infrastructure provider |
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| Weight | sdk.Dec | "0.912345678907654321" | % of remaining minted rewards allocated to this provider |
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Each `PartnerReward` has the following properties
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| Key | Type | Example | Description |
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| ---------------- | -------------- | --------------------------------------------- | ---------------------------------- |
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| Address | sdk.AccAddress | "kava1x0cztstumgcfrw69s5nd5qtu9vdcg7alqtyhgr" | address of infrastructure partner |
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| RewardsPerSecond | object (coin) | {"denom": "ukava", "amount": "1285" } | per second reward for this partner |
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@ -14,3 +14,17 @@ At the start of each block, the inflationary coins for the ongoing period, if an
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}
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}
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```
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## Inflationary Coin Minting
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The `MintPeriodInflation` method mints inflationary coins for the two schedules defined in the parameters when `params.Active` is `true`. Coins are minted based off the number of seconds passed since the last block. When `params.Active` is `false`, the method is a no-op.
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Firstly, it mints coins at a per second rate derived from `params.Periods`. The coins are minted into `x/kavadist`'s module account.
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Next, it mints coins for infrastructure partner rewards at a per second rate derived from `params.InfrastructureParams.InfrastructurePeriods`. The coins are minted to the module account but are then immediately distributed to the infrastructure partners.
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## Infrastructure Partner Reward Distribution
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The coins minted for the `InfrastructurePeriods` are distributed as follows:
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* A distribution is made to each of the infrastructure partners based on the number of seconds since the last distribution for each of the defined `params.InfrastructureParams.PartnerRewards`.
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* The remaining coins are distributed to the core infrastructure providers by the weights defined in `params.InfrastructureParams.CoreRewards`.
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@ -17,4 +17,4 @@ parent:
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## Abstract
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`x/kavadist` is an implementation of a Cosmos SDK Module that allows for governance controlled minting of coins into a module account. Coins are minted during inflationary periods, which each period have a governance specified APR and duration. This module does not provide functionality for spending or distributing the minted coins.
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`x/kavadist` is an implementation of a Cosmos SDK Module that allows for governance controlled minting of coins into a module account. Coins are minted during inflationary periods, for which each period has a governance specified APR and duration. Additionally, coin rewards for governance specified infrastructure partners are minted and distributed.
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