I checked my first voter rewards today and something seems very off, has to be a glitch or something…
According to this article on DFINITY’s Medium:
Checking against my voting power:
The max dissolve-delay bonus should be 100%
- check, my vote power for an 8-year dissolve delay neuron with 1 staked ICP is right at 2 (plus some dust)
The max-age bonus should be ~25% when maxed out at 4 years
- check, the dust…
Here’s where it gets wonky:
Checking this vote on the NNS canister upgrade that I participated in, what appears to be the tally [by voting power] seems very off as there appear to be ~32 Quadrillion weighted votes. I thought to myself, ‘ehh must be a glitch or I’m misunderstanding something…’
Then I went to the page for that Neuron to see what the maturity was for the first day of voting:
For those that are unfamiliar, that percentage equates (roughly) to how much of your staked amount you can spawn in a new neuron that comes preset with a 1-day dissolve timer.
as explained on medium (see screenshot below):
… 0.0008017% is the equivalent of dust for rewards; $0.00 when rounded, $0.00240510000000 to be exact [assuming a $300 ICP] for the first day of rewards on my 1-ICP staked neuron with a dissolve delay of 8 years.
This leads me to question further if what appears to be ~32 quadrillion total voter-power is actually the case.
If this number is in fact the total voting power:
- that would put the average ratio of vote-power-to-ICP at around 92 Million to 1 with mine and other retail investors after genesis being around 2 to 1, plus dust, (for a neuron staked with 1 ICP after genesis with a maxed-out dissolve delay bonus and negligible age bonus)
- retail investors after genesis would receive millions to 1 less of the ~10% of total coin supply voter reward pool this year than those who received pre-aged neurons at genesis.
- assuming a $300 ICP and not accounting for further changes in the percentage of ICP that is staked, by my calculations that would be around 88 cents for the 1st year staking reward.
According to that medium article from last week, the age reward is supposed to be capped at 25% and achieved at 4 years, which would be reasonable.
Spreadsheet where I worked some out rough estimates (assuming a $300-priced ICP):
Hopefully, I am misunderstanding something in how things are being displayed or this is some kind of glitch… I couldn’t imagine this being intended.