diff --git a/book/src/SUMMARY.md b/book/src/SUMMARY.md index c0234f5cd5..d3ed2cbe14 100644 --- a/book/src/SUMMARY.md +++ b/book/src/SUMMARY.md @@ -38,7 +38,7 @@ - [Validation Stake Delegation](ed_vce_validation_stake_delegation.md) - [Replication-client Economics](ed_replication_client_economics.md) - [Storage-replication Rewards](ed_rce_storage_replication_rewards.md) - - [Replication-client Reward Auto-delegation](ed_rce_replication_client_reward_auto_delegation.md) + - [Replication-client Reward Auto-delegation](ed_rce_replication_client_reward_auto_delegation.md) - [Economic Sustainability](ed_economic_sustainability.md) - [Attack Vectors](ed_attack_vectors.md) - [References](ed_references.md) diff --git a/book/src/ed_economic_sustainability.md b/book/src/ed_economic_sustainability.md index ca39bce735..8f57a69ba0 100644 --- a/book/src/ed_economic_sustainability.md +++ b/book/src/ed_economic_sustainability.md @@ -6,7 +6,8 @@ The dominant remittances from the Solana mining pool are validator and replicato The Replicator rewards are to be delivered to replicators from the mining pool after successful PoRep validation. The per-PoRep reward amount is determined as a function of the total network storage redundancy at the time of the PoRep validation and the network goal redundancy. This function is likely to take the form of a discount from a base reward to be delivered when the network has achieved and maintained its goal redundancy. An example of such a reward function is shown in **Figure 3** -![image alt text](img/image_2.png) + +

==PoRep Reward Curve ==

**Figure 3**: Example PoRep reward design as a function of global network storage redundancy. diff --git a/book/src/ed_overview.md b/book/src/ed_overview.md index 324a3d93af..d17120b0d2 100644 --- a/book/src/ed_overview.md +++ b/book/src/ed_overview.md @@ -10,6 +10,7 @@ Transaction fees are market-based participant-to-participant transfers, attached A high-level schematic of Solana’s crypto-economic design is shown below in **Figure 1**. The specifics of validation-client economics is described in [Section 2](ed_validation_client_economics.md) including validation protocol-based rewards ([Section 2.1](ed_vce_state_validation_protocol_based_rewards.md)), validation transaction fee dynamics ([Section 2.2](ed_vce_state_validation_transaction_fees.md)) and validator-client compensation for replication verification ([Section 2.3](ed_vce_replication_validation_transaction_fees.md)). [Section 2.4](ed_vce_validation_stake_delegation.md) closes with a discussion of stake delegation. [Section 3](ed_replication_client_economics.md) will review the Solana network design for global ledger storage/redundancy and replicator-client economics ([Section 3.1](ed_rce_storage_replication_rewards.md)) along with a replicator-to-validator delegation mechanism designed to aide participant on-boarding into the Solana economy ([Section 3.2](ed_rce_replication_client_reward_auto_delegation.md)). [Section 4](ed_economic_sustainability.md) dives deeper into Solana’s design for long-term economic sustainability and outlines the constraints and conditions for a self-sustaining economy. Finally, in [Section 5](ed_attack_vectors.md), various attack vectors will be described and potential vulnerabilities explored and parameterized. -![img alt text](img/image_0.png) + +

== Solana Economic Design Diagram ==

**Figure 1**: Schematic overview of Solana economic incentive design diff --git a/book/src/ed_vce_state_validation_protocol_based_rewards.md b/book/src/ed_vce_state_validation_protocol_based_rewards.md index 79eac3535e..52d6c0a4b1 100644 --- a/book/src/ed_vce_state_validation_protocol_based_rewards.md +++ b/book/src/ed_vce_state_validation_protocol_based_rewards.md @@ -36,7 +36,9 @@ At any given point in time, this interest rate is pegged to a defined value give Over time, the interest rate, at any network staked percentage, will drop as described by an algorithmic schedule. Validation-client interest rates are designed to be higher in the early days of the network to incentivize participation and jumpstart the network economy. This mining-pool provided interest rate will reduce over time until a network-chosen baseline value is reached. This is a fixed, long-term, interest rate to be provided to validator-clients. This value does not represent the total interest available to validator-clients as transaction fees for both state-validation and ledger storage replication (PoReps) are not accounted for here. A validation-client interest rate schedule as a function of % network staked and time is shown in** Figure 2**. -![image alt text](img/image_1.png) + + +

drawing

**Figure 2:** In this example schedule, the annual interest rate [%] reduces at around 16.7% per year, until it reaches the long-term, fixed, 4% rate. diff --git a/book/src/porep_reward.png b/book/src/porep_reward.png new file mode 100755 index 0000000000..501cf29e1d Binary files /dev/null and b/book/src/porep_reward.png differ diff --git a/book/src/solana_economic_design.png b/book/src/solana_economic_design.png new file mode 100755 index 0000000000..60f31c29b9 Binary files /dev/null and b/book/src/solana_economic_design.png differ diff --git a/book/src/validation_client_interest_rates.png b/book/src/validation_client_interest_rates.png new file mode 100755 index 0000000000..b17fdf0d39 Binary files /dev/null and b/book/src/validation_client_interest_rates.png differ