simplystaking / mainnet-1

Desmos Mainnet

This is the official repository used to launch the first Desmos mainnet.

In here you will find the description and motivation of the various on-chain parameters values that we have decided to use. You can also check for the used genesis state as well as get all the info about the version of Desmos that has been used to launch the mainnet.

Binary version

The used Desmos version to start the mainnet is the following:

$ desmos version --long
name: Desmos
server_name: desmos
version: 1.0.1
commit: 852bfd12f234126f1c9e48e785c5bb8fbcd96647

To checkout this version run:

git checkout tags/v1.0.1

Genesis file

The mainnet genesis file has been generated using the genesis state and transactions present inside the data folder.

The result genesis state is the one named genesis.json and has the following hashsum:

$ jq -S -c -M '' genesis.json | shasum -a 256
4417f328ceb340c3fd6724174d0b4ad7ef1a27624b0401a853453ec8d699faf4  -

Parameters

Desmos will be running with the following parameters at genesis.

Most of the parameters can be updated by using a ParameterChangeProposal and the x/gov module. Below we list only the changes to the parameters from the Cosmos SDK modules. All the other parameters values are going to be the default ones.

Base

• "genesis_time": "2021-08-31T15:00:00Z". 31 Aug 2021 3pm UTC
• "chain_id": "desmos-mainnet-1". The Chain ID of the DESMOS mainnet will be desmos-mainnet-1.

Auth

• "tx_sig_limit": "10". Maximum signatures per transaction is increased to 10.

Consensus

• "max_gas": "100000000". Maximum gas per block is set to 100,000,000. Considering the default 200,000 gas per transaction, this means 500 transactions should be included inside each block.
• "max_age_duration": "1209600000000000". 2 weeks for double sign evidence.
• "max_age_num_blocks": "204670". This is calculated by max_age_duration / 5.91 which is the average block time on morpheus-apollo-2 testnet.

Crisis

• "amount": "13333000000". We will need 13333 DSM to halt the chain if anything goes wrong.

Distribution

• "community_tax": "0.200000000000000000". The tax on inflation and fees for community pool will be 20%.

Governance

• "min_deposit": 500000000udesmos. The minimum deposit to make a proposal turn into voting period will be 500 DSM.
• "max_deposit_period": "259200s". The maxmium deposit period for a proposal will be 259,200 seconds which is 3 days.
• "voting_period": "604800s". The voting period of a proposal will be 604,800 seconds which is 7 days.

Mint

• "mint_denom": "udsm". The mint denom will be udsm. This is the smallest unit of the staking token DSM.
• "inflation_rate_change": "1.000000000000000000". Inflation change rate is set to 1 to have the optimum speed to make the inflation rate change to the target inflation.
• "inflation": "0.000000000000000000" ¹
• "inflation_max": "0.000000000000000000" ¹
• "inflation_min": "0.000000000000000000" ¹
• "goal_bonded": "0.9". We see staking ratio can reach over 82% on other networks. We are setting a higher goal_bonded to attract token holders to stake and incentivize early stakers.
• "blocks_per_year": "5339695". Based on 5.91 seconds of average block time on morpheus-apollo-2 testnet.

¹ All these parameters are set to 0 at genesis to avoid an imbalanced sudden change of token distribution at launch. These values will be changed by a ParameterChangePropoal right after launch.
According to the parameters inside the Governance module, the earliest time for the parameter change to happen will be 7 days after the genesis time. This period of zero inflation will give enough time for token holders to stake until inflation is turned on.
The inflation_max will be set to 0.8 and inflation_min will be set to 0.4 as written in the whitepaper. The inflation will be computed based on the percentage of tokens delegated at that time.

Slashing

• "signed_blocks_window": "150000". This is around 24 hours based on 5.91 seconds block time.
• "min_signed_per_window": "0.050000000000000000. Validators will be kept on active set if they sign 5% of blocks in every signed_blocks_window.
• "downtime_jail_duration": "1800s". Down time for uptime jail is 30 minutes.
• "slash_fraction_double_sign": "0.050000000000000000". Validators and their delegators will encounter 5% slashing on their staked tokens if the validators double sign.
• "slash_fraction_downtime": "0.000100000000000000". Validators and their delegators will encounter 0.01% slashing on their staked tokens if the validators cannot meet the uptime requirement.

Staking

• "unbonding_time": "1209600s". Unbonding period on DESMOS is set to 1209600 seconds which is 14 days.
• "bond_denom": "udsm". The bond denom is udsm. This is the smallest unit of the DSM.

Transfer

• "send_enabled": false ¹
• "receive_enabled": false ¹

¹ Both the sending and receiving of tokens using IBC will be disabled at genesis. We will enable them after the chain start with a governance proposal.

Seed Nodes

While connecting to the Desmos mainnet, you can use the following seed nodes to bootstrap your node:

[e-mail]
[e-mail]
[e-mail]