Chikku

Chikku is a blockchain built using Cosmos SDK and Tendermint and created with Ignite CLI.

Warning: This is a development version of the blockchain. Do not use in production.

• EGV Token and Dynamic Rewards: Implement a system for distributing "egv" tokens to 10 pre-defined addresses. Design a reward mechanism that distributes additional egv tokens based on transaction volume, calculated as:

    individual_reward = (individual_address_transactions / total_network_transactions) * (inflation_rate * total_supply).

• Transaction-Weighted Governance(Bonus): Develop a governance system that allows for modification of the inflation rate via proposals and weighted voting. Voting weight should be determined by network contribution:

  Voting weight = (individual_address_transactions / total_network_transactions)

Architecture

1. x/egvmod: EGV Token and Dynamic Rewards

   • Predefined addresses that receive EGV tokens:

     • Register the predefined addresses (10 operators with some egv tokens) from the config as module params file.

   • Params:

     • InflationRate: The rate at which new tokens are minted.
     • distrubutionInterval: The interval at which rewards are distributed.
     • operators: The list of predefined operators.

   • Structs:

     • TotalTrxsCount: The total number of transactions in the network since genesis at given block height.

       total_network_trxs = sum(operator_cumulative_trxs_count)
       
       (block_height => [(operator_address, cumulative_trxs_count), ...])

     • OperatorTrxsCount: The number of transactions for each operator, which would get updated after each transaction and reset after each distribution has happened.

       [(operator_address, trxs_count), ...]

       Also storing for future reference with key as block height.

       (block_height => [(operator_address, individual_reward), ...])

     • lastDistributionBlock: The block height at which the last distribution happened.

   • Expected behavior:

     • while Gensis intialization, register the predefined operators with some egv tokens. (10 operators)

       • Initialize the OperatorTrxsCount for each operator to 0.
       • Initialize the distrubutionInterval to 100 blocks through module params. so that it can be changed through governance.
       • Initialize the inflationRate to 0.1 (default 10%) through module params. so that it can be changed through governance.
       • add export genesis to the module.

     • Increment the OperatorTrxsCount for each operator after each transaction. Reset the count after each distribution. Currently it is using store to track the OperatorTrxsCount but can be updated to use memStore.

       • use AnteHandler to update the OperatorTrxsCount after each transaction.
       • Can use MsgTypeURL to check the type of transaction and update the OperatorTrxsCount.

     • Calculate & Mint new tokens and distribute them to the operators.

       • Distribute the rewards to the operators at distributionInterval blocks, at EndBlocker.

         if current_height% distributionInterval == 0:
             for operator in operators:
                 individual_reward = (operator_trxs_count / total_network_trxs) * (inflation_rate * total_supply)
                 operator_trxs_count = 0
                 mint_tokens(operator, individual_reward)

   • Permissions:

     • x/bank
     • x/mint
     • x/auth

2. x/egov: Transaction-Weighted Governance

   • Permissions:
     • x/gov
   • Expected behavior:

     • Create a Proposal with new InflationRate, distributionInterval, Or operators.

     • Store each Proposal with snapshot_trxs_count and total_network_trxs.

     • A params change proposal to modify the InflationRate, distributionInterval, and operators.

       • Only the governance module can modify the InflationRate.
       • Only the governance module can modify the distributionInterval.
       • Only the governance module can modify the operators.

     • The voting weight should be determined by the operator_trxs_count of the operator.

       vote_weight = individual_address_transactions / total_network_transactions

     • The proposal should be accepted if the voting weight is greater than 50%

       • Custom Tally that calculates the voting weight.

Assumptions

1. inflation_rate = 0.1 (default 10%) and is for a given distributionInterval.
2. total_network_transactions = total number of transactions in the network since genesis.

Refrences

1. Optimistic Execution
2. Cosmos-sdk