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chore: reduce default inflation #20606

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merged 5 commits into from
Jun 11, 2024
Merged

chore: reduce default inflation #20606

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b747e1a
reduce mint defaults to stop people thinking of high inflation
tac0turtle Jun 10, 2024
b9584e5
fix readme
tac0turtle Jun 10, 2024
b3f7ec4
fix commnet
tac0turtle Jun 10, 2024
e93c39d
Merge branch 'main' into marko/mint_defaults
tac0turtle Jun 10, 2024
bb15f49
fix tests
tac0turtle Jun 11, 2024
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12 changes: 6 additions & 6 deletions orm/encoding/ormfield/duration.go
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Original file line number Diff line number Diff line change
Expand Up @@ -16,12 +16,12 @@ const (

// DurationCodec encodes google.protobuf.Duration values with the following
// encoding:
// - nil is encoded as []byte{0xFF}
// - seconds (which can range from -315,576,000,000 to +315,576,000,000) is encoded as 5 fixed bytes
// - nanos (which can range from 0 to 999,999,999 or -999,999,999 to 0 if seconds is negative) are encoded such
// that 999,999,999 is always added to nanos. This ensures that the encoded nanos are always >= 0. Additionally,
// by adding 999,999,999 to both positive and negative nanos, we guarantee that the lexicographical order is
// preserved when comparing the encoded values of two Durations:
// - nil is encoded as []byte{0xFF}
// - seconds (which can range from -315,576,000,000 to +315,576,000,000) is encoded as 5 fixed bytes
// - nanos (which can range from 0 to 999,999,999 or -999,999,999 to 0 if seconds is negative) are encoded such
// that 999,999,999 is always added to nanos. This ensures that the encoded nanos are always >= 0. Additionally,
// by adding 999,999,999 to both positive and negative nanos, we guarantee that the lexicographical order is
// preserved when comparing the encoded values of two Durations:
// - []byte{0xBB, 0x9A, 0xC9, 0xFF} for zero nanos
// - 4 fixed bytes with the bit mask 0x80 applied to the first byte, with negative nanos scaled so that -999,999,999
// is encoded as 0 and -1 is encoded as 999,999,998
Expand Down
12 changes: 6 additions & 6 deletions orm/encoding/ormfield/timestamp.go
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Expand Up @@ -9,12 +9,12 @@ import (

// TimestampCodec encodes google.protobuf.Timestamp values with the following
// encoding:
// - nil is encoded as []byte{0xFF}
// - seconds (which can range from 0001-01-01T00:00:00Z to 9999-12-31T23:59:59Z) is encoded as 5 fixed bytes
// - nanos (which can range from 0 to 999,999,999 or -999,999,999 to 0 if seconds is negative) are encoded such
// that 999,999,999 is always added to nanos. This ensures that the encoded nanos are always >= 0. Additionally,
// by adding 999,999,999 to both positive and negative nanos, we guarantee that the lexicographical order is
// preserved when comparing the encoded values of two Timestamps.
// - nil is encoded as []byte{0xFF}
// - seconds (which can range from 0001-01-01T00:00:00Z to 9999-12-31T23:59:59Z) is encoded as 5 fixed bytes
// - nanos (which can range from 0 to 999,999,999 or -999,999,999 to 0 if seconds is negative) are encoded such
// that 999,999,999 is always added to nanos. This ensures that the encoded nanos are always >= 0. Additionally,
// by adding 999,999,999 to both positive and negative nanos, we guarantee that the lexicographical order is
// preserved when comparing the encoded values of two Timestamps.
//
// When iterating over timestamp indexes, nil values will always be ordered last.
//
Expand Down
8 changes: 4 additions & 4 deletions tests/e2e/bank/grpc.go
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Expand Up @@ -35,7 +35,7 @@ func (s *E2ETestSuite) TestTotalSupplyGRPCHandler() {
&types.QueryTotalSupplyResponse{
Supply: sdk.NewCoins(
sdk.NewCoin(fmt.Sprintf("%stoken", val.GetMoniker()), s.cfg.AccountTokens),
sdk.NewCoin(s.cfg.BondDenom, s.cfg.StakingTokens.Add(math.NewInt(10))),
sdk.NewCoin(s.cfg.BondDenom, s.cfg.StakingTokens.Add(math.NewInt(3))),
),
Pagination: &query.PageResponse{
Total: 2,
Expand All @@ -50,7 +50,7 @@ func (s *E2ETestSuite) TestTotalSupplyGRPCHandler() {
},
&types.QuerySupplyOfResponse{},
&types.QuerySupplyOfResponse{
Amount: sdk.NewCoin(s.cfg.BondDenom, s.cfg.StakingTokens.Add(math.NewInt(10))),
Amount: sdk.NewCoin(s.cfg.BondDenom, s.cfg.StakingTokens.Add(math.NewInt(3))),
},
},
{
Expand All @@ -61,7 +61,7 @@ func (s *E2ETestSuite) TestTotalSupplyGRPCHandler() {
},
&types.QuerySupplyOfResponse{},
&types.QuerySupplyOfResponse{
Amount: sdk.NewCoin(s.cfg.BondDenom, s.cfg.StakingTokens.Add(math.NewInt(20))),
Amount: sdk.NewCoin(s.cfg.BondDenom, s.cfg.StakingTokens.Add(math.NewInt(6))),
},
},
{
Expand All @@ -72,7 +72,7 @@ func (s *E2ETestSuite) TestTotalSupplyGRPCHandler() {
},
&types.QuerySupplyOfResponse{},
&types.QuerySupplyOfResponse{
Amount: sdk.NewCoin(s.cfg.BondDenom, s.cfg.StakingTokens.Add(math.NewInt(10))),
Amount: sdk.NewCoin(s.cfg.BondDenom, s.cfg.StakingTokens.Add(math.NewInt(3))),
},
},
{
Expand Down
6 changes: 3 additions & 3 deletions tests/e2e/distribution/grpc_query_suite.go
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Expand Up @@ -116,7 +116,7 @@ func (s *GRPCQueryTestSuite) TestQueryOutstandingRewardsGRPC() {
val := s.network.GetValidators()[0]
baseURL := val.GetAPIAddress()

rewards, err := sdk.ParseDecCoins("19.6stake")
rewards, err := sdk.ParseDecCoins("5.88stake")
s.Require().NoError(err)

testCases := []struct {
Expand Down Expand Up @@ -170,7 +170,7 @@ func (s *GRPCQueryTestSuite) TestQueryValidatorCommissionGRPC() {
val := s.network.GetValidators()[0]
baseURL := val.GetAPIAddress()

commission, err := sdk.ParseDecCoins("9.8stake")
commission, err := sdk.ParseDecCoins("2.94stake")
s.Require().NoError(err)

testCases := []struct {
Expand Down Expand Up @@ -283,7 +283,7 @@ func (s *GRPCQueryTestSuite) TestQueryDelegatorRewardsGRPC() {
val := s.network.GetValidators()[0]
baseURL := val.GetAPIAddress()

rewards, err := sdk.ParseDecCoins("9.8stake")
rewards, err := sdk.ParseDecCoins("2.94stake")
s.Require().NoError(err)

testCases := []struct {
Expand Down
3 changes: 1 addition & 2 deletions x/mint/README.md
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Expand Up @@ -95,8 +95,7 @@ type InflationCalculationFn func(ctx sdk.Context, minter Minter, params Params,
The target annual inflation rate is recalculated each block.
The inflation is also subject to a rate change (positive or negative)
depending on the distance from the desired ratio (67%). The maximum rate change
possible is defined to be 13% per year, however, the annual inflation is capped
as between 7% and 20%.
possible is defined to be 5% per year, however, the annual inflation is capped between 0% and 5%.
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Correct the grammatical structure around "however".

- possible is defined to be 5% per year, however, the annual inflation is capped between 0% and 5%.
+ possible is defined to be 5% per year; however, the annual inflation is capped between 0% and 5%.
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Suggested change
possible is defined to be 5% per year, however, the annual inflation is capped between 0% and 5%.
possible is defined to be 5% per year; however, the annual inflation is capped between 0% and 5%.
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LanguageTool

[typographical] ~98-~98: The word “however” is an adverb that can’t be used like a conjunction, and therefore needs to be separated from the sentence. (HOWEVER_SENTENCE)
Context: ...ge possible is defined to be 5% per year, however, the annual inflation is capped between ...


```go
NextInflationRate(params Params, bondedRatio math.LegacyDec) (inflation math.LegacyDec) {
Expand Down
20 changes: 10 additions & 10 deletions x/mint/types/minter_test.go
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Expand Up @@ -23,31 +23,31 @@ func TestNextInflation(t *testing.T) {
bondedRatio, setInflation, expChange math.LegacyDec
}{
// with 0% bonded atom supply the inflation should increase by InflationRateChange
{math.LegacyZeroDec(), math.LegacyNewDecWithPrec(7, 2), params.InflationRateChange.Quo(blocksPerYr)},
{math.LegacyZeroDec(), math.LegacyNewDecWithPrec(0, 2), params.InflationRateChange.Quo(blocksPerYr)},

// 100% bonded, starting at 20% inflation and being reduced
// (1 - (1/0.67))*(0.13/8667)
{
math.LegacyOneDec(), math.LegacyNewDecWithPrec(20, 2),
math.LegacyOneDec(), math.LegacyNewDecWithPrec(5, 2),
math.LegacyOneDec().Sub(math.LegacyOneDec().Quo(params.GoalBonded)).Mul(params.InflationRateChange).Quo(blocksPerYr),
},

// 50% bonded, starting at 10% inflation and being increased
{
math.LegacyNewDecWithPrec(5, 1), math.LegacyNewDecWithPrec(10, 2),
math.LegacyNewDecWithPrec(5, 1), math.LegacyNewDecWithPrec(2, 2),
math.LegacyOneDec().Sub(math.LegacyNewDecWithPrec(5, 1).Quo(params.GoalBonded)).Mul(params.InflationRateChange).Quo(blocksPerYr),
},

// test 7% minimum stop (testing with 100% bonded)
{math.LegacyOneDec(), math.LegacyNewDecWithPrec(7, 2), math.LegacyZeroDec()},
{math.LegacyOneDec(), math.LegacyNewDecWithPrec(700000001, 10), math.LegacyNewDecWithPrec(-1, 10)},
// test 0% minimum stop (testing with 100% bonded)
{math.LegacyOneDec(), math.LegacyNewDecWithPrec(0, 2), math.LegacyZeroDec()},
{math.LegacyOneDec(), math.LegacyNewDecWithPrec(1, 10), math.LegacyNewDecWithPrec(-1, 10)},

// test 20% maximum stop (testing with 0% bonded)
{math.LegacyZeroDec(), math.LegacyNewDecWithPrec(20, 2), math.LegacyZeroDec()},
{math.LegacyZeroDec(), math.LegacyNewDecWithPrec(1999999999, 10), math.LegacyNewDecWithPrec(1, 10)},
// test 5% maximum stop (testing with 0% bonded)
{math.LegacyZeroDec(), math.LegacyNewDecWithPrec(5, 2), math.LegacyZeroDec()},
{math.LegacyZeroDec(), math.LegacyNewDecWithPrec(499999999, 10), math.LegacyNewDecWithPrec(1, 10)},

// perfect balance shouldn't change inflation
{math.LegacyNewDecWithPrec(67, 2), math.LegacyNewDecWithPrec(15, 2), math.LegacyZeroDec()},
{math.LegacyNewDecWithPrec(67, 2), math.LegacyNewDecWithPrec(5, 2), math.LegacyZeroDec()},
}
for i, tc := range tests {
minter.Inflation = tc.setInflation
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4 changes: 2 additions & 2 deletions x/mint/types/params.go
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Expand Up @@ -28,8 +28,8 @@ func DefaultParams() Params {
return Params{
MintDenom: sdk.DefaultBondDenom,
InflationRateChange: math.LegacyNewDecWithPrec(13, 2),
InflationMax: math.LegacyNewDecWithPrec(20, 2),
InflationMin: math.LegacyNewDecWithPrec(7, 2),
InflationMax: math.LegacyNewDecWithPrec(5, 2),
InflationMin: math.LegacyNewDecWithPrec(0, 2),
GoalBonded: math.LegacyNewDecWithPrec(67, 2),
BlocksPerYear: uint64(60 * 60 * 8766 / 5), // assuming 5 second block times
MaxSupply: math.ZeroInt(), // assuming zero is infinite
Expand Down
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