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README.md

README.md

Genesis

Downlaod the columbus-3 genesis Here

Genesis Parameters

Parameters that have been updated from Columbus-2 have been highlighted.

Slashing Module

  • "slash_fraction_double_sign": "0.05". Increase slashing fraction for the Validators who equivocate (double-sign a block, and thereby compromise safety) and are caught to 5%.

Goverance Module

  • "min_deposit": "512luna". The minimum deposit to bring a proposal up for a vote is 512 LUNAs. Because the price of LUNAs is uncertain at launch, this value should be high enough to prevent spam proposals, while not being too expensive. As a note, the deposit can be crowd-funded, so the proposer doesn't have to provide the whole thing. Proposals which pass refund all deposits.
  • "max_deposit_period": "1209600000000000". The duration in which a proposal can collect deposits is 2 weeks. This value should be long enough for a proposal to have time to gain support from the community.
  • "voting_period": "1209600000000000". The duration in which a proposal can be voted upon is 2 weeks. The voting period should be long enough that all staked LUNA holders had time to participate.
  • "quorum": "0.4". A minimum quorum of 40% of bonded stake must vote on a proposal in order for it to be considered for passage. This is to ensure that proposals don't pass that have support from only a small segment of the community.
  • "threshold": "0.5". Over half the voting stake must vote in favor of a proposal in order for it to pass.
  • "veto": "0.334". 1/3 of voting stake vetoing a proposal prevents it from passing. This is necessitated by the 1/3 BFT safety bound, since 1/3 of stake could also elect to halt the chain or compromise safety.

Market Module

  • "base_pool": "250000000000". Initial starting size of both Terra and Luna liquidity pools is 250,000 SDT.
  • "pool_recovery_period": 14400". The duration in which the Terra & Luna pools to naturally "reset" toward equilibrium (delta ~= 0) through automated pool replenishing is 14400 blocks (~= a day).
  • "min_spread": "0.02". Minimum spread charged on Terra<>Luna swaps is 2%. This is to prevent leaking value from front-running attacks.
  • "tobin_tax": 0.0025. A fee of 0.25% of swap amount is charged on swap between Terra currencies (spot-trading).
  • "illiquid_tobin_tax_list": [{'denom':'umnt','tax_rate':'0.02'}]. Charge high tobin tax (2%) to the illquid denom (umnt).

Oracle Module

  • "vote_period": "5". Shorten the oracle tally period to 5 blocks.
  • "reward_band": "0.07". Increase the criteria for receiving rewards and avoiding penalties to 7%, allowing validators to adapt to the initial improved penalty system.
  • "whitelist": ["ukrw", "usdr", "uusd", "umnt"]. The list of currencies that can be voted on. This is set to (KRT, SDT, UST, MNT).
  • "reward_distribution_window": "5256000". The number of blocks during which oracle reward comes in and then is distributed is 5,256,000 blocks (~= a year).
  • "slash_window": "432000". The number of blocks for slashing tallying is 432,000 blocks (~= a month).
  • "slash_fraction": "0.0001". The validators will get 0.01% penalty on bonded tokens for oracle voting violation.
  • "min_valid_per_window": "0.05". The validators should submit 5% valid votes per slash window to avoid slashing.

Treasury Module

  • "tax_policy.rate_min": 0.001. Minimum tax rate is increased to 0.1%.
  • "reward_policy.rate_max": 0.5. Maximum reward weight is decreased to 50%.
  • "window_probation": "0". No mature period will be required for columbus-3.
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