1. Background
This proposal seeks to modify one or more on-chain parameters within the Initia network. The motivation behind this change is to initialize and state the Vested Interest Program (VIP), a critical mechanism designed to align user incentives with long-term commitment and participation in the Initia ecosystem, will begin on April 24th at 08:00 AM UTC.
2. Parameter Settings
| Parameter | Value | Description |
|---|---|---|
| Stage interval | 2 weeks | The duration of a single VIP stage. |
| Vesting period | 26 stages | Total vesting period of esINIT |
| Minimum lock staking period | 26 weeks | The minimum lock staking period applied to esINIT. |
| Minimum eligible TVL | 0 INIT | The minimum quantity of INIT TVL required by each rollup to be eligible for VIP whitelisting and esINIT reward. |
| Maximum weight ratio | 0.4 | The ratio of the maximum amount of esINIT each rollup can receive on each stage compared to the other rollups. |
| Minimum score ratio | 0.5 | The ratio multiplied to the received VIP score a user must maintain in order to fully vest their esINIT on each stage. |
| Pool split ratio | 0.2 | The ratio of the total esINIT reward which is allocated to the balance pool. |
| Challenge Period | 3 days | The duration of time where anyone can submit a challenge against the score snapshot. |
| Reward per stage | 673,076.923076 INIT | The quantity of VIP reward distributed on every stage. |
| Snapshot Interval | 1 hour | The frequency of how often snapshots of TVL of all rollups are taken. |
| Minimum lock period | 30 days | The minimum lock period a user can set for a lock staking position. |
| Maximum lock period | 2 years | The maximum lock period a user can set for a lock staking position. |
| Maximum delegation slot | 60 positions | The maximum number of lock staking positions which can be owned by a user. |
All proposed changes are in accordance with Initia’s governance process and will be automatically applied by the chain once the proposal passes and the voting period concludes.
3. Rationale
- By establishing a clear and transparent set of parameters and a well-defined start time, we ensure fair access and preparedness across all participants.
- The structure of vesting and staking durations is designed to promote long-term alignment between users, rollups, and the Initia network.