Hi Calamari Community Members!
The new manta v3.4.0 node upgrade has landed and democracy proposal 28 to authorize it is live and ready for your votes
This is a high-priority release for collator runners and users that brings with it the long-awaited permissionless Delegated Proof-of-Stake along with a new split for transaction fees.
You can find additional information about this major upgrade to KMA tokenomics in the docs.
Highlights of the above include:
- Transaction Fees are split three ways
- 45% will be burned.
- 45% is sent to the treasury to fund future parachain slot auctions and community expenses like a development fund.
- 10% is distributed to the collator who produced the block containing this transaction.
- 3% of total KMA circulation is given to stakers (collators & delegators) as rewards each year
- Collators gain a 10% commission from their delegator’s rewards
Also, this upgrade concludes our collator program as from now on, anyone who wants to run a collator will permissionlessly be able to do so.
We will release staking guides for collators and delegators in the docs before the upgrade goes live.
The network version after upgrade will be
Users: No action needed and you will be able to delegate your KMA to and share in other’s collator rewards
Full Node Runners: No action needed
Collator Runners: Once this upgrade is live, your node will no longer produce blocks or receive rewards. See below for info
If you are running an active
collator node as part of the collator program before v3.4.0:
You do not need to upgrade your
mantaexecutable though there is no harm in doing so anytime you wish
Calamari network will use
pallet_parachain_stakingfor collator selection from this upgrade on. Your nodes are currently registered with the old
manta_collator_selectionpallet which will become inactive once the upgrade vote passes.
Your current slot with
manta_collator_selectionentitles you as a member of our collator program to a collator slot with a reduced bond of 400_000 KMA as a thank-you for your early support of the network
You need to manually migrate your collator to the new system by calling the
joinCandidatesextrinsic from polkadot.js on your collator’s account. It will take part in staking rewards after you have done so.
Do NOT leave the old candidate set manually as this will lead to you forfeiting your entitlement and resulting in you having to bond 4M KMA if you wish to rejoin. Just run the below extrinsic and your currently reserved 400_000 KMA for the collator will be migrated over without requiring additional funds ( besides gas fees ).
The bond is 400_000_000_000_000_000 KMA ( 400k KMA with 12 decimals ) and 64 is just a hint for transaction weight that must be larger than the current number of registered collators ( or the transaction will fail )
You will find more detailed instructions in the staking guide in the docs soon
Furthermore, a number of more minor changes that improve different areas of the code base were added in this release. Please take a look at the Release Notes and Changelog for further technical details.
Again thank you for your support and looking forward to your votes!