Parameters Update Proposal March 2020

Proposal
#1

This is a proposal to update the fees and deposits of the various courts. These new values adapt to the changes in crypto prices that have occurred over the past few months. (Compare to the previous set of parameter updates here: Fees and Deposits Updates Proposal)

Specifically I propose the following changes:

General

Proposed juror fee : .098 ETH

Blockchain

Proposed juror fee : .1 ETH
Proposed minstake : 8030 PNK

Non-technical

(Blockchain-> Non-technical)

Proposed juror fee : .054 ETH
Proposed minstake : 8030 PNK

Token Listing

(Blockchain-> Non-technical-> Token Listing)

Proposed juror fee : .88 ETH
Proposed minstake : 60,500 PNK

Technical

(Blockchain-> Technical)

Proposed juror fee : .89 ETH
Proposed minstake : 60,500 PNK

Marketing Services

Proposed juror fee : .103 ETH
Proposed minstake : 10,040 PNK

English Language

Proposed juror fee : .103 ETH
Proposed minstake : 10,040 PNK

Video Production

Proposed juror fee : .103 ETH
Proposed minstake : 10,040 PNK

For information on the motivations for these choices, see the following google doc and the github documents it references:

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#2

Is there some kind of reference leading to these adjustments or is it basically price related?

#3

The adjustments are mostly to respond to price moves. There are constraints on what you want the the parameters to be that depend on the price of PNK in ETH, so those parameters should be adjusted if that changes significantly enough. (For example, if you depend on having significant deposits in PNK to incentivize jurors to take cases seriously and not vote randomly, if the value of those deposits falls relative to the expected amount of ETH you get from a random voting strategy, you need to adjust.)

Additionally, in the google doc at the bottom, you can see that these values are based on estimations of the monetary value of the average effort required to evaluate difference kinds of cases. (Feel free to provide feedback on those estimations! Ultimately that is something that is hard to measure beyond talking to people in the community.) Those estimations of effort are stated in ETH in the doc, but realistically I think for most people whether something is worth their time has more to do with the value of the payment in some average fiat currency. So to produce the estimations for required effort in the doc I basically adjusted the estimations I had made for the last parameter update proposal to adjust for changes in ETH to euro prices.

However, not all of the adjustments are totally based on price changes. For example, things like the average rate of coherence in a court are relevant in the heuristics/constraints used to produce these proposed values. In some courts we have enough data to have a better sense of that than we had at the time of the last parameter updates. Again, you can get more detail on that in the “Parameters - March 2020” google doc linked above.

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#4

Thanks for this detailed answer, I’ll check the doc carefully. :+1:

#5

I am amending this proposal, to account for the following:

  1. Further price fluctuations since the original proposal.
  2. I have decreased the estimates for the effort required to handle disputes in the blockchain non-technical court slightly; this has a roughly corresponding result in decreasing the fees in this court. This is based on observations for the level of effort that these disputes have required so far.
  3. I overhauled somewhat the parameters for the Blockchain court - this court is imposing constraints on the minstake of the Blockchain non-technical court (as the minstakes must be nondecreasing going down a branch in the court tree), which seems a bit silly as the Blockchain court hasn’t gotten tons of use so far. So with this proposal, that constraint is removed, and I then propose compatible fees that are a middle ground between the fees in some of the other courts in the blockchain branch, which could potentially be useful if appropriate categories of disputes arise in that level of difficulty.

So, the modified proposal is now to make the following changes:

General

Proposed juror fee : .07 ETH

Blockchain

Proposed juror fee : .1 ETH
Proposed minstake : 9700 PNK

Non-technical

(Blockchain-> Non-technical)

Proposed juror fee : .042 ETH
Proposed minstake : 9700 PNK

Token Listing

(Blockchain-> Non-technical-> Token Listing)

Proposed juror fee : .8775 ETH
Proposed minstake : 58,800 PNK

Technical

(Blockchain-> Technical)

Proposed juror fee : .8845 ETH
Proposed minstake : 72,900 PNK

Marketing Services

Proposed juror fee : .1 ETH
Proposed minstake : 13,800 PNK

English Language

Proposed juror fee : .1 ETH
Proposed minstake : 13,800 PNK

Video Production

Proposed juror fee : .1 ETH
Proposed minstake : 13,800 PNK

See the following doc for further motivation on these choices:

1 Like
KIP-22 Parameter Updates (May 2020)