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feat: Staking reward generation through inflation #1052

Merged
merged 94 commits into from
Jul 23, 2024
Merged

feat: Staking reward generation through inflation #1052

merged 94 commits into from
Jul 23, 2024

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valeriyr
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@valeriyr valeriyr commented Jul 8, 2024 •
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Description of change

This PR introduces a staking reward generation mechanism based on IOTA inflation/deflation.

The following changes were made:

  1. IotaTreasuryCap was introduced to protect the IOTA token from being minted/burnt by an unauthorized address. It is placed in the IotaSystemStateInnerV2 structure and can be used only by the system address in the iota_system::iota_system_state_inner module. Also, changed the executor conservation checks to make it possible to mint/burn tokens during epoch change transactions.
  2. The config parameters for staking were changed according to the table.
  3. Stake subsidy was disabled by changing the related parameters. Created an additional issue [Task (SC-Platform)]: Get rid of stake subsidies in Rust #1001.
  4. Disabled the storage fund reinvestment rate in iota-protocol-config. The logic is partially removed from the Move framework. Created an additional issue [Task (SC-Platform)]: Get rid of reinvestment in the codebase #1005.
  5. The storage_rebate_rate protocol parameter was set to 100%.
  6. The staking rewards leftovers are burnt instead of to be stored in storage_fund.
  7. Removed the part of the validator reward that was calculated based on the storage_fund balance.
  8. Introduced a constant target reward rate per epoch for validators and burn/ mint new tokens depending on computation_reward.
  9. Integrated the inflation changes with the genesis builder.

Links to any relevant issues

fixes #153

Type of change

Choose a type of change, and delete any options that are not relevant.

  • Breaking change (fix or feature that would cause existing functionality to not work as expected)

How the change has been tested

Autotests.

valeriyr and others added 30 commits July 2, 2024 17:43
@valeriyr
feat: store IOTA's TreasutyCap in SystemObject
bfa308f
@PhilippGackstatter
fix: Add TreasuryCap to Rust system inner types
9c887de
@PhilippGackstatter
feat: Add minting and burning of IOTA tokens
29ff60d
@valeriyr
feat(iota-framework-snapshot): the framework snapshots were regenerated
c68aab4
@valeriyr
Merge pull request #966 from iotaledger/sc-platform/issue-946-retain-…
8510aee 
…iota-treasury-cap

[Task (SC-Platform)]: Retain the TreasuryCap of the IOTA token from genesis and place it into the system object.
@valeriyr
feat(iota-types): staking params were changed according new requirements
90f53ed
@PhilippGackstatter
feat: Fix tests and add target reward mint/burn tests
8970dc4
@PhilippGackstatter
fix: Update docs
c926dac
@PhilippGackstatter
feat: Skip iota conservation check on epoch change
92e4dbb
@PhilippGackstatter
feat: Pass validator target reward param on epoch advance
6bc41c2
@PhilippGackstatter
fix: Pass validator reward also in v0, v1, v2
6179424
@PhilippGackstatter
feat: Temporarily disable authority conservation check
11ac9f5
@valeriyr
Merge pull request #951 from iotaledger/sc-platform/issue-944-staking…
c743734 
…-parameters

feat(iota-types): staking params were changed according new requirements
@PhilippGackstatter
Merge remote-tracking branch 'origin/sc-platform/issue-153' into sc-p…
512f0e5 
…latform/945-mint-and-burn-rewards
@valeriyr
feat: implemented IotaTreasuryCap
4e1329b
@valeriyr
feat: added tests checking IOTA creation processes
694f138
@PhilippGackstatter
feat: Make inflation/deflation tests more understandable
3adb12e
@valeriyr
Merge pull request #974 from iotaledger/sc-platform/issue-941-iota-tr…
7bce060 
…easury-cap

feat: implemented IotaTreasuryCap
@PhilippGackstatter
fix: Better comment on the target reward value
3bd9d18
@PhilippGackstatter
Merge remote-tracking branch 'origin/sc-platform/issue-153' into sc-p…
76befe1 
…latform/945-mint-and-burn-rewards
@PhilippGackstatter
feat: Use IotaTreasuryCap for minting and burning
25ab220
@PhilippGackstatter
feat(sc-platform): Disable stake subsidies (#992)
4dbe85d 
* feat: Set disabling params for stake subsidies

* feat: Never pay out rewards from stake subsidies

* fix: Remove stake subsidy start epoch overwrite completely
@Dkwcs
feat(iota-protocol-config): disabling storage_fund_reinvest_rate
aca9357
@Dkwcs
feat(iota-framework): burning leftover rewards, storage_fund doesn't …
d2abdb1 
…earn from that
@Dkwcs
feat(iota-framework): storage_fund_reward has been removed
1559226
@Dkwcs
feat(iota-framework): storage_fund_reinvest_rate has been removed fro…
119d36c 
…m advance_epoch signature
@valeriyr
Merge pull request #1009 from iotaledger/sc-platform/disable-storage_…
245e733 
…fund_reinvest_rate

feat(iota-protocol-config): disabling storage_fund_reinvest_rate
@PhilippGackstatter
fix: Use indentation of 4 everywhere
4d44b9b
@PhilippGackstatter
fix: Apply rustfmt
ec62bc1
@PhilippGackstatter
fix: Better name for minting/burning function
25a8f8a
@lzpap
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lzpap commented Jul 18, 2024

Blocked by #1173

valeriyr and others added 2 commits July 19, 2024 00:47
@valeriyr
Merge branch 'develop' into sc-platform/issue-153
222fa95
@Dkwcs
fix(iota-core): Fix CI after inflation introduction (#1196)
fbbd01c 
* fix(iota-core): fixing non_refundable_storage_fee related tests
cargo clippy fixes
cargo fmt
broken tests ignoring
@valeriyr
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Looks good to me! We shall test if we can run iota-test-validator with the test snapshot coming from #1182.

Checked, the test validator works.

@valeriyr valeriyr requested review from miker83z and lzpap July 22, 2024 11:23
lzpap
lzpap previously approved these changes Jul 22, 2024
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miker83z
miker83z previously approved these changes Jul 22, 2024
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@valeriyr valeriyr dismissed stale reviews from miker83z and lzpap via 9f570e5 July 22, 2024 14:49
@valeriyr valeriyr requested review from lzpap and miker83z July 23, 2024 03:30
lzpap
lzpap approved these changes Jul 23, 2024
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It was a big feature, thanks for coordinating it @valeriyr!

@lzpap lzpap merged commit d7da3bd into develop Jul 23, 2024
77 of 85 checks passed
@lzpap lzpap deleted the sc-platform/issue-153 branch July 23, 2024 07:59
@begonaalvarezd begonaalvarezd mentioned this pull request Jul 31, 2024
Closed
alexsporn pushed a commit that referenced this pull request Sep 6, 2024
@lzpap
Merge pull request #1052 from iotaledger/sc-platform/issue-153
639f386 
feat: Staking reward generation through inflation
alexsporn pushed a commit that referenced this pull request Sep 6, 2024
@lzpap
Merge pull request #1052 from iotaledger/sc-platform/issue-153
b4b1372 
feat: Staking reward generation through inflation
alexsporn pushed a commit that referenced this pull request Sep 6, 2024
@lzpap
Merge pull request #1052 from iotaledger/sc-platform/issue-153
2f62d13 
feat: Staking reward generation through inflation
alexsporn pushed a commit that referenced this pull request Sep 9, 2024
@lzpap
Merge pull request #1052 from iotaledger/sc-platform/issue-153
f3d3c88 
feat: Staking reward generation through inflation
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@lzpap lzpap lzpap approved these changes

@miker83z miker83z miker83z approved these changes

@kodemartin kodemartin Awaiting requested review from kodemartin kodemartin is a code owner

@PhilippGackstatter PhilippGackstatter Awaiting requested review from PhilippGackstatter

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@Dkwcs Dkwcs

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[Task (L1SC)]: Staking reward generation through inflation
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@valeriyr @lzpap @PhilippGackstatter @miker83z @Dkwcs