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Tokenomics rewards (#802)

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* Initial analysis

* Implement core rewards distribution

* Tests and refactoring for better testability

* Feature gate ts-rs in mixnet-contract

* No more floats

* Fix performance calculation

* Add migration

* Bandwidth fix, reduce inflation pool size

* Update tokenomics

* Refactor rewarding and replace num crate

* Address review comments

* Cleanup, better test values

* Simplify formula

* Cleanup, add rewarding formulas to README

* Address review comments

* Cleanup rebase

* [ci skip] Generate TS types

* fmt

Co-authored-by: Drazen Urch <durch@users.noreply.guthub.com>
This commit is contained in:
Drazen Urch
2021-11-10 11:14:06 +01:00
committed by GitHub
parent 8bcc931d9b
commit eae4276381
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README.md
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@@ -5,8 +5,6 @@ SPDX-License-Identifier: Apache-2.0
## The Nym Privacy Platform
This repository contains the Nym mixnet.
The platform is composed of multiple Rust crates. Top-level executable binary crates include:
* nym-mixnode - shuffles [Sphinx](https://github.com/nymtech/sphinx) packets together to provide privacy against network-level attackers.
@@ -33,6 +31,45 @@ There's a `.env.sample-dev` file provided which you can rename to `.env` if you
You can chat to us in [Keybase](https://keybase.io). Download their chat app, then click **Teams -> Join a team**. Type **nymtech.friends** into the team name and hit **continue**. For general chat, hang out in the **#general** channel. Our development takes places in the **#dev** channel. Node operators should be in the **#node-operators** channel.
### Rewards
Node, node operator and delegator rewards are determined according to the principles laid out in the section 6 of [Nym Whitepaper](https://nymtech.net/nym-whitepaper.pdf). Below is a TLDR of the variables and formulas involved in calculating the epoch rewards. Initial reward pool is set to 250 million Nym, making the circulating supply 750 million Nym.
|Symbol|Definition|
|---|---|
|<img src="https://render.githubusercontent.com/render/math?math=R">|global share of rewards available, starts at 2% of the reward pool.
|<img src="https://render.githubusercontent.com/render/math?math=R_{i}">|node reward for mixnode `i`.
|<img src="https://render.githubusercontent.com/render/math?math=\sigma_{i}">|ratio of total node stake (node bond + all delegations) to the token circulating supply.
|<img src="https://render.githubusercontent.com/render/math?math=\lambda_{i}">|ratio of stake operator has plaged to their node to the token circulating supply.
|<img src="https://render.githubusercontent.com/render/math?math=\omega_{i}">|fraction of total effort undertaken by node `i`, set to `1/k` in testnet Milhon.
|<img src="https://render.githubusercontent.com/render/math?math=k">|number of nodes stakeholders are incentivised to create, set by the validators, a matter of governance. Currently determined by the `active set` size, and set to 5000 in testnet Milhon.
|<img src="https://render.githubusercontent.com/render/math?math=\alpha">|Sybil attack resistance parameter - the higher this parameter is set the stronger the reduction in competitivness gets for a Sybil attacker.
|<img src="https://render.githubusercontent.com/render/math?math=PM_{i}">|declared profit margin of operator `i`, defaults to 10% in testnet Milhon.
|<img src="https://render.githubusercontent.com/render/math?math=PF_{i}">|uptime of node `i`, scaled to 0 - 1, for the rewarding epoch
|<img src="https://render.githubusercontent.com/render/math?math=PP_{i}">|cost of operating node `i` for the duration of the rewarding eopoch, set to 40 Nym for testnet Milhon.
Node reward for node `i` is determined as:
<img src="https://render.githubusercontent.com/render/math?math=R_{i}=PF_{i} \cdot R \cdot (\sigma^'_{i} \cdot \omega_{i} \cdot k %2b \alpha \cdot \lambda^'_{i} \cdot \sigma^'_{i} \cdot k)/(1 %2b \alpha)">
where:
<img src="https://render.githubusercontent.com/render/math?math=\sigma^'_{i} = min\{\sigma_{i}, 1/k\}">
and
<img src="https://render.githubusercontent.com/render/math?math=\lambda^'_{i} = min\{\lambda_{i}, 1/k\}">
Operator of node `i` is credited with the following amount:
<img src="https://render.githubusercontent.com/render/math?math=min\{PP_{i},R_{i})\} %2b max\{0, (PM_{i} %2b (1 - PM_{i}) \cdot \lambda_{i}/\delta_{i}) \cdot (R_{i} - PP_{i})\}">
Delegate with stake `s` recieves:
<img src="https://render.githubusercontent.com/render/math?math=max\{0, (1-PM_{i}) \cdot (s^'/\sigma_{i}) \cdot (R_{i} - PP_{i})\}">
where `s'` is stake `s` scaled over total token circulating supply.
### Licensing and copyright information
This program is available as open source under the terms of the Apache 2.0 license. However, some elements are being licensed under CC0-1.0 and MIT. For accurate information, please check individual files.