PIP-001: Minting rate reduction

Author: @bernd.tez

Summary

Implement a minting rate reduction from 50 PLENTY/block to 30 PLENTY/block. A reduction of the minting rate results in a new reward distribution scheme, as seen in the specification, for the PLENTY farms.

Motivation

Almost half of the maximum supply of 62,000,000 PLENTY is minted already, and at the current rate all tokens will be minted around August 2022.

The goal of this proposal is to reduce the amount of PLENTY that leaves the circulation, by reducing the newly incoming supply. In the short term, this will lower the APR of the farms. However, by reducing the minting rate, the sell pressure of the PLENTY token is reduced as well.

Specification

  1. Update the storage of tokensPerBlock from 50000000000000000000 to 30000000000000000000
  2. Update farm rates

Vote

To be eligible to vote, a user must hold xPLENTY at the time of the deployment of the Plenty Improvement Proposal (PIP).

Status: Executed