What is the current policy for Fee/Emissions updates?

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What is the current policy for Fee/Emissions updates?

Radix Publishing will use the following policy as its guide for when and how updates are published to the Radix protocol that affect network fees and validator node incentive XRD emissions:

Network Fee Updating Policy

At any point in time, there is a current network XRD/USD price that was used as the basis for the Network fee table currently adopted on the Radix Public Network.

Radix Publishing will use a reputable source for the XRD market price, in USD, to watch the 7-day simple moving average of XRD price. If that 7-day SMA price deviates by a factor of 2 (less than 50% or more than 200%) from the current network XRD/USD price, the target will be to publish a Radix Node with an updated fee table based on a new current network XRD/USD price within 2 weeks – but it may take longer if other planned updates or development commitments make this impractical.

The price used will be the 7-day SMA price on the day that the new Node is published.

If such an update is published, it will also include an update to the Emissions Rate, calculated as in the following section.

Emissions Rate Updating Policy

At any point in time, there is a current network average epoch duration that defines the maximum amount of XRD that are emitted to node-runners and stakers (before any burning due to non-participation penalties) in order to equal 300m XRD emitted per year.

The actual duration of epochs on the Radix Public Network will be observed over time in order to watch the 30-day simple moving average of epoch duration. If this 30-day SMA deviates by a factor of 1.2 (less than 83% or more than 120%) from the current network average epoch duration, the target will be to publish a Radix Node with an updated emissions rate within 2 weeks – but it may take longer if other planned updates or development commitments make this impractical.

The updated per-epoch emission rate will target 300m XRD / year based on an epoch duration set by the 30-day SMA epoch duration on the day that the new Node is published. Note that this does not attempt to compensate for past low/high emissions rates – only bring it back in line with a 300m XRD / year target. This does not change the maximum XRD that shall be emitted over the lifetime of the emissions program of 24Bn tokens – meaning that the estimated 40-year duration of the program may be somewhat reduced or increased.

Note that per the Network Fee Updating Policy above, the Emissions Rate may be adjusted even when the epoch duration does not deviate by more than a factor of 1.2.