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Saturn Release Informational Maintenance + RPIP-49 #273

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Aug 6, 2024
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Saturn Release Informational Maintenance + RPIP-49 #273

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e11833d
Maintenance updates to RPIPs 49, 55, and 56.
LongForWisdom Jul 29, 2024
76766a8
Minimizing changes to 49
LongForWisdom Jul 29, 2024
79b9bd5
Minor change for consistency
LongForWisdom Jul 29, 2024
d34c94d
Consistency with other changes
LongForWisdom Jul 29, 2024
2eb5bb0
Reword RPL issuance for clarity
LongForWisdom Jul 29, 2024
c57e000
Shuffled contents into RPIP order. Took feedback from comments.
LongForWisdom Jul 31, 2024
30faaf1
Add a bullet.
LongForWisdom Jul 31, 2024
8935972
Fiddling with bullets.
LongForWisdom Jul 31, 2024
a5c9023
Put value capture bullet back in.
LongForWisdom Aug 5, 2024
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27 changes: 11 additions & 16 deletions RPIPs/RPIP-49.md
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Expand Up @@ -100,32 +100,27 @@ This RPIP introduces a delay after protocol upgrades have been confirmed but pri
The tokenomics rework package will likely be split between two protocol upgrades: Saturn 1 and Saturn 2.

### Saturn 1

* [RPIP-43: Megapools](RPIP-43.md)
* Including ETH-only validators.
* [RPIP-42: Bond curves](RPIP-42.md)
* Framework
* 4ETH minimum bond
* [RPIP-59: Deposit Mechanics](RPIP-59.md)
* Standard and express queues.
* [RPIP-46: Universal Adjustable Revenue Split](RPIP-46.md)
* Splits between rETH, node operators, and vote-eligible staked RPL staked in megapools
* RPL issuance rewards no longer have a minimum stake required
* RPL Value Capture - Increased share to voting Node Operators.
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* [RPIP-42: Bond curves](RPIP-42.md) - Partial Inclusion
* 4 ETH minimum bond
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Suggested change
* 4 ETH minimum bond
* 4 ETH bonds only

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Or "4 ETH bonds for all validators"?

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Technically it's 4-8-4-*? So not sure I can say that.

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What do you mean? Each new validator will require an additional 4 ETH bond. The array will go 4-8-12-16-*, but each index is how much capital you need for the next validator (4th validator requires 16 ETH or 4ETH bond per validator)?

Maybe "4 ETH bond per validator"?

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I like "4 ETH bond per validator"

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What do you mean? Each new validator will require an additional 4 ETH bond. The array will go 4-8-12-16-*, but each index is how much capital you need for the next validator (4th validator requires 16 ETH or 4ETH bond per validator)?

Maybe "4 ETH bond per validator"?

Possible I've been misunderstanding this for ages lol. Is it not:
4 ETH for first.
12 ETH for second.
16 ETH for third.
?

I thought the array value was the delta that you needed, not the total?

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Will have to think it out tomorrow.

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It is total amount you need, so Saturn 1 is flat 4ETH bonds
Total per index: [4,8,12,…]
Alternatively just the “extra cost per index: [4,4,4,…]

Saturn changes to:
[4,8,9.5,11,13.5…]
or
(Additional cost): [4,4,1.5,1.5,1.5,…]

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Confirming samus has it right

* [RPIP-43: Megapools](RPIP-43.md) (includes ETH-only validators)
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* [RPIP-46: Universal Adjustable Revenue Split](RPIP-46.md) - Partial Inclusion
* UARS introduced with no_share, voter_share, and reth_commission
* RPL issuance extended to legacy nodes below cliff
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* [RPIP-47: Forced delegate upgrades](RPIP-47.md)
* [RPIP-59: Deposit Mechanics](RPIP-59.md) (includes express queue)
* [RPIP-60: Protocol Upgrade Guardrails](RPIP-60.md)

### Saturn 2

* [RPIP-42: Bond curves](RPIP-42.md)
* 1.5ETH minimum bond.
* [RPIP-42: Bond curves](RPIP-42.md) - Remainder
* 1.5 ETH minimum bond.
* [RPIP-44: Forced exits](RPIP-44.md)
* [RPIP-46: Universal Adjustable Revenue Split](RPIP-46.md)
* Split may add a new share for all RPL, depending on outcome of Revenue Share vote
* May add in a semi-automated system of controlling voter_share, depending on outcome of Revenue Share vote
* RPL inflation reduced to 1.5% (from 5%)
* No more RPL issuance rewards
* RPL Value Capture based on vote outcome - [RPL Burn](RPIP-45.md) / [RPL Buy & LP](RPIP-50.md) / Increased share to vote-eligible RPL staked in megapools
* RPL issuance to node operators ends
* RPL Value Capture based on vote outcome - Probably one of: [RPL Burn](RPIP-45.md) / [RPL Buy & LP](RPIP-50.md) / Increased share to vote-eligible RPL staked in megapools

## Current Status
Last Updated: July 16th
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27 changes: 11 additions & 16 deletions RPIPs/RPIP-55.md
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Expand Up @@ -20,23 +20,18 @@ The intention of this Living Informational RPIP is to collate the release-releva

## Estimated Included RPIPs

* [RPIP-30: RPL Staking Rework](RPIP-30.md) - Partial Inclusion
* Two-step RPL withdrawal process.


### Tokenomics Rework Content
The tokenomics upgrade has not yet been ratified by the Rocket Pool pDAO.
* [RPIP-43: Megapools](RPIP-43.md) - Partial Inclusion
* Including ETH-only validators.
* [RPIP-42: Bond curves](RPIP-42.md) - Partial Inclusion
* Framework
* 4ETH minimum bond
* [RPIP-59: Deposit Mechanics](RPIP-59.md)
* Standard and express queues.
* [RPIP-46: Universal Adjustable Revenue Split](RPIP-46.md) - Partial Inclusion
* All but heuristic adjustments.
* RPL Value Capture - One of: [RPIP-45: RPL Burn](RPIP-45.md) / [RPIP-50: RPL Buy & LP](RPIP-50.md) / Increased share to voting Node Operators.
* [RPIP-30: RPL Staking Rework](RPIP-30.md) - Remainder
* [RPIP-57: Node Distributor User Fund Unbundling](RPIP-57.md) - Not yet ratified.
* [RPIP-58: MEV Penalty Guardrail](RPIP-58.md) - Not yet ratified.
* [RPIP-61: Balance Submission Guardrail](RPIP-61.md) - Not yet ratified.

### RPIP-49 Tokenomics Rework Content
The RPIP-49 tokenomics rework has not yet been ratified by the Rocket Pool pDAO.
* [RPIP-42: Bond curves](RPIP-42.md) - Partial
* [RPIP-43: Megapools](RPIP-43.md)
* [RPIP-46: Universal Adjustable Revenue Split](RPIP-46.md) - Partial
* [RPIP-47: Forced delegate upgrades](RPIP-47.md)
* [RPIP-59: Deposit Mechanics](RPIP-59.md)
* [RPIP-60: Protocol Upgrade Guardrails](RPIP-60.md)

## Key Links
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11 changes: 5 additions & 6 deletions RPIPs/RPIP-56.md
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Expand Up @@ -20,13 +20,12 @@ The intention of this Living Informational RPIP is to collate the release-releva

## Estimated Included RPIPs

### Tokenomics Rework Content
The tokenomics upgrade has not yet been ratified by the Rocket Pool pDAO.
* [RPIP-42: Bond curves](RPIP-42.md) - Partial Inclusion
* 1.5ETH minimum bond.
### RPIP-49 Tokenomics Rework Content
The RPIP-49 tokenomics rework has not yet been ratified by the Rocket Pool pDAO.
* [RPIP-42: Bond curves](RPIP-42.md) - Remainder
* [RPIP-44: Forced exits](RPIP-44.md)
* [RPIP-46: Universal Adjustable Revenue Split](RPIP-46.md) - Partial Inclusion
* Heuristic adjustments.
* [RPIP-46: Universal Adjustable Revenue Split](RPIP-46.md) - Remainder
* RPL Value Capture based on vote outcome - Probably one of: [RPIP-45: RPL Burn](RPIP-45.md) / [RPIP-50: RPL Buy & LP](RPIP-50.md) / Increased share to voting Node Operators

## Key Links
TBC - Include Audits, Code Repositories, Release Blog Posts, Upgrade contract, etc once they are posted.
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