[v10] Thirdening Testing

[czarcas7ic]

Background

While there is no reason to be suspicious of the code in place to reduce token emissions by 1/3rd every year (the thirdening), since this is a fairly significant event, it should get extensively tested prior to it happening.

Suggested Design

Prior to June 18th

• Spin up a state exported testnet
  • Expedite the daily epoch to happen every 60 seconds
  • Take note of emissions prior to thirdening
  • Take note of emissions after thirdening
• Check osmo supply pre & post thirdening

Acceptance Criteria

Actions related to thirdening are reviewed for any odd behaviors. If odd behavior is noted, a plan is put into action to address prior to June 18th

[czarcas7ic]

Epoch 364:

• Start Height: 4642252
• Epoch Provisions: 821917808219.178082191780821917
• Osmo comm pool: 59134841349889

Epoch 365:

• Start Height: 4642313
• Epoch Provisions: 821917808219.178082191780821917
• Osmo comm pool: 59448603001566
  • 5% of emission is 41095890410.95890410958904109585
  • Prior Osmo comm pool plus this 5%: 59175937240299.95890410
  • To account for LP dist to community pool
    • Weight for gauge 0 is 19500000/100000689=19.499865%
    • 45% of emission that go to LPs is 369863013698.63013698630136986265
      • 369863013698.63013698630136986265 * 19.499865% = 72122788356.16438356164383
  • 72122788356.16438356164383 + 41095890410.95890410958904109585 = 113218678767.12328767123287109585
  • 59134841349889 + 113218678767.12328767123287109585 = 59248060028656.12328767123287109585
  • 59448603001566-59248060028656.12328767123287109585 = 200542972909.87671232876712890415
  • The actual comm pool has 200542972909.87671232876712890415 more osmo than expected

Epoch 366:

• Start Height: 4642375
• Epoch Provisions: 821917808219.178082191780821917
• Osmo comm pool: 59762364653242

Epoch 367:

• Start Height: 4642438
• Epoch Provisions: 547945205479.452054246575342465
• Osmo comm pool: 59971539087920

Epoch provisions are now 2/3rds what it was, as expected. The thirdening will happen on epoch 367. This translates to the epoch that occurs on Monday, June 20th on mainnet.

[czarcas7ic]

I wanted to query to community pool and note the differences, but for some reason I think the state export broke this connection since the account I know to be the community pool does not increase at all (both pre and post thirdening). I could also be querying the wrong address

Edit: Community pool address is osmo1jv65s3grqf6v6jl3dp4t6c9t9rk99cd80yhvld

[czarcas7ic]

My numbers weren't adding up for community pool, so this is my attempt at getting them to work for a dev reward wallet. Should be less varying factors. Doing it on this address osmo14kjcwdwcqsujkdt8n5qwpd8x8ty2rys5rjrdjj with 0.288700000000000000 weight

Epoch 364:

• Start Height: 4642252
• Epoch Provisions: 821917808219.178082191780821917
  • Goes to dev rewards: 205479452054.79452054794520547925
  • Goes to specific wallet: dev rewards*0.2887=59321917808.219178082191780821859475
• Wallet Bal: 21533856163941

Epoch 365:

• Start Height: 4642313
• Epoch Provisions: 821917808219.178082191780821917
  • Goes to dev rewards: 205479452054.79452054794520547925
  • Goes to specific wallet: dev rewards*0.2887=59321917808.219178082191780821859475
  • Add rewards to previous wallet balance to get expected wallet bal
    • 59321917808.219178082191780821859475 + 21533856163941 = 21593178081749.219178082191780821859475
• Actual Wallet Bal: 21593178081748
• Dif is -1.21917808219 less osmo than expected

Epoch 366:

• Start Height: 4642375
• Epoch Provisions: 821917808219.178082191780821917
  • Goes to dev rewards (25%): 205479452054.79452054794520547925
  • Goes to specific wallet: dev rewards*0.2887=59321917808.219178082191780821859475
  • Add rewards to previous wallet balance to get expected wallet bal
    • 59321917808.219178082191780821859475 + 21593178081748 = 21652499999556.219178082191780821859475
• Actual Wallet Bal: 21652499999555
• Dif is -1.21917808219 less osmo than expected

Epoch 367:

• Start Height: 4642438
• Epoch Provisions: 547945205479.452054246575342465
  • Goes to dev rewards: 136986301369.86301356164383561625
  • Goes to specific wallet: dev rewards*0.2887 = 39547945205.479452015246575342411375
  • Add rewards to previous wallet balance to get expected wallet bal
    • 39547945205.479452015246575342411375 + 21652499999555 = 21692047944760.479452015246575342411375
• Actual Wallet Bal: 21692047944760
• Dif is -0.479452015 less osmo than expected

[czarcas7ic]

Spun up another testnet to check total supply

Epoch 364:

• Start Height: 4694728
• Epoch Provisions: 821917808219.178082191780821917
• Total Supply
  • 2581482187359696

Epoch 365:

• Start Height: 4694784
• Epoch Provisions: 821917808219.178082191780821917
• Total Supply
  • 2582304105167908
• Epoch 365 supply - epoch 364 supply should equal epoch provisions
  • 2582304105167908 - 2581482187359696 = 821917808212
  • 821917808219.178082191780821917 - 821917808212 = 7.178082191780821917
  • ~7.18 osmo unaccounted for

Epoch 366:

• Start Height: 4694841
• Epoch Provisions: 821917808219.178082191780821917
• Total Supply
  • 2583126022976120
• Epoch 366 supply - epoch 365 supply should equal epoch provisions
  • 2583126022976120 - 2582304105167908 = 821917808212
  • 821917808219.178082191780821917 - 821917808212 = 7.178082191780821917
  • ~7.18 osmo unaccounted for

Epoch 367:

• Start Height: 4694896
• Epoch Provisions: 547945205479.452054246575342465
• Total Supply
  • 2583673968181593
• Epoch 367 supply - epoch 366 supply should equal epoch provisions
  • 2583673968181593 - 2583126022976120 = 547945205473
  • 547945205479.452054246575342465 - 547945205473 = 6.452054246575342465
  • ~6.45 osmo unaccounted for

[czarcas7ic]

Are we happy with the above tests? If so, I will close this issue

[ValarDragon]

Yeah,thanks! We can just keep an eye on the total supply query on mainnet as a final sanity check