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Mainnet Update 5/5/2022: Changes to SIB calculation and EAI bonus rates

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  4. Mainnet Update 5/5/2022: Changes to SIB calculation and EAI bonus rates

Upon the passing of the 3/30/2022 BPC Referendum, Oneiro began work on the technical updates specified in ndau New Policy Proposal #03.

As of 5/5/2022, ndau mainnet and testnet have been updated with the following changes:

  1. The value of GAMMA in the SIB equation Applied SIB = Base SIB * (1 + (GAMMA * Base SIB)) is currently 10.
  2. EAI Locking Bonus rates for ndau locked one year or longer are now
    • 1y lock bonus: 5% (total EAI rate = 15%)
    • 2y lock bonus: 10% (total EAI rate = 20%)
    • 3y lock bonus: 15% (total EAI rate = 25%)

The new EAI Locking Bonus rates apply whenever a new lock is applied to an account. And all accounts locked before 5/5/2022 are earning the new rates as of 5/5/2022.

Clarifications (added 7/5/2022): On April 1 2022, Oneiro implemented the SIB formula change (source code available on GitHub) that was approved by the 3/30/22 BPC Referendum. After this SIB formula change, updated SIB fee values were immediately reflected and publicly displayed on both the ndau blockchain explorer and the ndau wallet app.  Also on April 1 2022, EAI Locking Bonus rates were updated for all newly locked accounts. On May 5 2022, all Oneiro engineering work was finalized for section 3.3 of the ndau New Policy Proposal #03 with the last completed feature being the application of new EAI rates to all accounts locked prior to April 1 2022.

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