Modify ANC Distribution

The Modify ANC Distribution poll can be used to submit polls that adjust parameters related to borrower ANC distribution. ANC distribution to borrowers are controlled by 3 parameter values, Borrower Emission Cap, Increment Multiplier, and Decrement Multiplier.

Calibration of the borrower ANC emission rate is used to control stablecoin borrow demand, which in turn affects the stablecoin deposit rate. The emission rate is adjusted based on the relation between the current deposit rate and the target deposit rate.

If the current deposit rate is calculated to be below the target, the borrower ANC emission rate is increased by a factor of Increment Multiplier. Otherwise, if the current deposit rate is above the target, the emission rate decreases by a factor of Decrement Multiplier.

To prevent the emission rate from spiking and having an excessively high rate, the emission rate is capped to the Borrower Emission Cap. The emission rate also has a minimum rate of Borrower Emission Floor to allow a minimum baseline of ANC incentives for borrowers.

Parameter Name	Value
Borrower Emission Cap	Maximum per-block ANC emission rate to borrowers
Borrower Emission Floor	Minimum per-block ANC emission rate to borrowers
Increment Multiplier	Emission rate multiplier when increasing ANC emission
Decrement Multiplier	Emission rate multiplier when decreasing ANC emission

Parameter Values

Up-To-Date

Parameter Name	Human-Readable Value	Raw Value (In Contract State)
Borrower Emission Cap	~20 ANC / block	20381363.851572310123647620
Borrower Emission Floor	~6.8 ANC / block	6793787.950524103374549206
Increment Multiplier	50% increment / week	1.007266723782294841
Decrement Multiplier	15% decrement / week	0.997102083349256160

At Protocol Genesis

Parameter Name	Human-Readable Value	Raw Value (In Contract State)
Borrower Emission Cap	~20 ANC / block	20381363.851572310123647620
Borrower Emission Floor	~6.8 ANC / block	6793787.950524103374549206
Increment Multiplier	50% increment / week	1.007266723782294841
Decrement Multiplier	15% decrement / week	0.997102083349256160

Poll Format

Field	Description	Optionality
Title	Poll title	Required
Proposal Rationale	Short description of poll rationale	Required
External Link	External URL for further information	Optional
Borrower Emission Cap	Proposed maximum per-block ANC emission rate to borrowers	Optional
Borrower Emission Floor	Proposed minimum per-block ANC emission rate to borrowers	Optional
Increment Multiplier	Proposed emission rate multiplier when increasing emission	Optional
Decrement Multiplier	Proposed emission rate multiplier when decreasing emission	Optional