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Update Polkadot ideal staking rate #26

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merged 17 commits into from
Oct 21, 2023
Merged

Update Polkadot ideal staking rate #26

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177469d
Update Polkadot inflation
kianenigma Sep 13, 2023
aa0d292
fmr
kianenigma Sep 30, 2023
9dd5388
main.into()
kianenigma Sep 30, 2023
1c3542a
add test to dispatch all proposals
kianenigma Sep 30, 2023
5fbfdab
Update relay/polkadot/src/lib.rs
kianenigma Sep 30, 2023
a2de53c
Merge remote-tracking branch 'origin/main' into kiz-update-polkadot-i…
bkchr Oct 19, 2023
d08a687
Bump spec versions
bkchr Oct 19, 2023
87c6161
Update changelog and make it release
bkchr Oct 19, 2023
197b3b9
Bump Kusama `transaction_version`
bkchr Oct 19, 2023
d661c6b
Update `xcm-builder`
bkchr Oct 19, 2023
92e378a
Update relay/polkadot/src/lib.rs
bkchr Oct 19, 2023
d65c9e0
Be optimistic!!
bkchr Oct 19, 2023
5f7230e
Upgrade staging xcm to get the fix for the metadata
bkchr Oct 21, 2023
307005e
Add a test
bkchr Oct 21, 2023
7aa69fa
Adds custom paras scheduler migration
bkchr Oct 21, 2023
ac31c62
Also copy the migration over to Kusama
bkchr Oct 21, 2023
e6789f9
Update CHANGELOG
bkchr Oct 21, 2023
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1 change: 1 addition & 0 deletions Cargo.lock
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1 change: 1 addition & 0 deletions relay/polkadot/Cargo.toml
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Original file line number Diff line number Diff line change
Expand Up @@ -69,6 +69,7 @@ pallet-session = { git = "https://github.com/paritytech/substrate", branch = "ma
frame-support = { git = "https://github.com/paritytech/substrate", branch = "master", default-features = false }
pallet-staking = { git = "https://github.com/paritytech/substrate", branch = "master", default-features = false }
pallet-staking-reward-curve = { git = "https://github.com/paritytech/substrate", branch = "master" }
pallet-staking-reward-fn = { git = "https://github.com/paritytech/substrate", branch = "master" }
pallet-staking-runtime-api = { git = "https://github.com/paritytech/substrate", branch = "master", default-features = false }
frame-system = {git = "https://github.com/paritytech/substrate", branch = "master", default-features = false }
frame-system-rpc-runtime-api = { git = "https://github.com/paritytech/substrate", branch = "master", default-features = false }
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50 changes: 49 additions & 1 deletion relay/polkadot/src/lib.rs
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Expand Up @@ -543,6 +543,54 @@ parameter_types! {
pub const MaxNominations: u32 = <NposCompactSolution16 as frame_election_provider_support::NposSolution>::LIMIT as u32;
}

/// Custom version of `runtime_commong::era_payout` somewhat tailored for Polkadot's crowdloan
/// unlock history. The only tweak should be
///
/// ```diff
/// - let auction_proportion = Perquintill::from_rational(auctioned_slots.min(60), 200u64);
/// + let auction_proportion = Perquintill::from_rational(auctioned_slots.min(60), 300u64);
/// ```
///
/// See https://forum.polkadot.network/t/adjusting-polkadots-ideal-staking-rate-calculation/3897/2
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fn polkadot_era_payout(
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total_staked: Balance,
total_stakable: Balance,
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i also think it would be sensible to peek in on what this value currently is on Polkadot and ensure it makes sense.

max_annual_inflation: Perquintill,
period_fraction: Perquintill,
auctioned_slots: u64,
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I dont remember the current status, but back when this was originally written, i believe the auctioned slots counter was not exactly correct.

has this logic been updated?

) -> (Balance, Balance) {
use pallet_staking_reward_fn::compute_inflation;
use sp_runtime::traits::Saturating;

let min_annual_inflation = Perquintill::from_rational(25u64, 1000u64);
let delta_annual_inflation = max_annual_inflation.saturating_sub(min_annual_inflation);

// 20% reserved for up to 60 slots.
let auction_proportion = Perquintill::from_rational(auctioned_slots.min(60), 300u64);

// Therefore the ideal amount at stake (as a percentage of total issuance) is 75% less the
// amount that we expect to be taken up with auctions.
let ideal_stake = Perquintill::from_percent(75).saturating_sub(auction_proportion);

let stake = Perquintill::from_rational(total_staked, total_stakable);
let falloff = Perquintill::from_percent(5);
let adjustment = compute_inflation(stake, ideal_stake, falloff);
let staking_inflation =
min_annual_inflation.saturating_add(delta_annual_inflation * adjustment);

let max_payout = period_fraction * max_annual_inflation * total_stakable;
let staking_payout = (period_fraction * staking_inflation) * total_stakable;
let rest = max_payout.saturating_sub(staking_payout);

let other_issuance = total_stakable.saturating_sub(total_staked);
if total_staked > other_issuance {
let _cap_rest = Perquintill::from_rational(other_issuance, total_staked) * staking_payout;
// We don't do anything with this, but if we wanted to, we could introduce a cap on the
// treasury amount with: `rest = rest.min(cap_rest);`
}
(staking_payout, rest)
}

pub struct EraPayout;
impl pallet_staking::EraPayout<Balance> for EraPayout {
fn era_payout(
Expand All @@ -561,7 +609,7 @@ impl pallet_staking::EraPayout<Balance> for EraPayout {
const MAX_ANNUAL_INFLATION: Perquintill = Perquintill::from_percent(10);
const MILLISECONDS_PER_YEAR: u64 = 1000 * 3600 * 24 * 36525 / 100;

runtime_common::impls::era_payout(
polkadot_era_payout(
total_staked,
total_issuance,
MAX_ANNUAL_INFLATION,
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