Given the recent Harmony RPC issues and rewards slowing down, we’ve been looking into a few solutions.
Also, World Snake Day is coming up on the 16th of July and we (the Viper team) have been discussing back and forth internally about doing something fun to celebrate the day of the Sneks.
That’s why we’re proposing updating the emission schedule and introducing the following changes:
- Introduce “Snake Month” - an event starting June 21st and lasting for one month:
- Week 1 (June 21 - June 27): 16x multiplier
- Week 2 (June 28 - July 4): 32x multiplier
- Week 3 (July 5 - July 11): 64x multiplier
- Week 4 (July 12 - July 18): 128x multiplier
- Better incentivize farming & hodling VIPER when we approach unlocks/Christmas:
- Week 1 (December 20 - December 26): 16x multiplier
- Week 2 (December 27 - January 2): 32x multiplier
- Week 3 (January 3 - January 9): 32x multiplier
- Week 4 (January 10 - January 16): 16x multiplier
- Introduce “Snake Month” 2022 - starting 27 June 2022 and lasting for one month:
- Week 1 (27 June - 3 July 2022): 8x multiplier
- Week 2 (4 July - 10 July 2022): 16x multiplier
- Week 3 (11 July - 17 July 2022): 32x multiplier
- Week 4 (18 July - 24 July 2022): 64x multiplier
- Introduces a fun and dynamic event - Snake Month - with increased rewards to offset some of the lowered rewards issues that have happened as of late.
- Introduces better incentives for hodling & farming VIPER when unlocks start in December 2021.
- Introduces Snake Month in 2022 to make farming more dynamic and exciting also in 2022.
- The proposed emission schedule will accelerate the emissions and the 500m max cap will be reached at Viper’s 2 year anniversary at roughly 2023-03-08 vs the originally scheduled time frame of end of February 2024. Therefore, the emission schedule will effectively be shortened by almost a full year.
This is just a proposed emission schedule. Even if it ends up being accepted by the DAO, we can always vote for additional changes.
There is no certainty that Harmony blocks will go back to 2s and remain like that for all eternity. Even if the proposed schedule greatly reduces the timeline for when the cap is reached, increased Harmony block time might still result in the cap being reached long after 2023-03-08.
This decision will be made entirely by the community/the DAO. Voting will commence at 24:00 UTC 15th of June and will run until 23:59 UTC 20th of June.
The proposal on https://governance.harmony.one incorrectly states “Required votes (>55%): 55377683.183026874860353202 ViperVote”
The acceptance criteria is 55% of the tallied votes given the 10% quorum is reached.
Unfortunately proposals can’t be edited on https://governance.harmony.one after they’ve been submitted.