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Childkey issues

Open gztensor opened this issue 1 year ago • 1 comments

  1. Childkey take gets added to PendingdHotkeyEmission in accumulate_hotkey_emission and then is distributed among nominators in drain_hotkey_emission.
  2. Miner emission is also subject to distribution to nominators in drain_hotkey_emission because it is added to PendingdHotkeyEmission.

gztensor avatar Oct 11 '24 17:10 gztensor

Branch: hotfix/childkey-emission-distibution

gztensor avatar Oct 11 '24 20:10 gztensor

PR: https://github.com/opentensor/subtensor/pull/950

gztensor avatar Nov 06 '24 15:11 gztensor

So does this no longer share child key take with nominators? This is a great shame, it is a natural wish that a validator would want to share child key take .. it is usually added to prevent a straight 'copying' scenario and implement a natural feee/penalty for the parent but also an overall gain for those delegating to the child.

This way it just becomes a selfish cash grab for the child whilst not allowing them to easily distribute the take amongst all nominators which is fairest.

mogmachine avatar Nov 18 '24 22:11 mogmachine

That's the original design behind child key take: Child key takes the % of the emission targeted for parent's portion of the stake (not nominators) and distributes the rest, it works just like delegate take.

Before this fix the childkey take was distributed just like the rest of emission, which makes the take feature pointless.

After this fix:

  • If childkey has stake from parent and nominators, it's entitled for emission.
  • The childkey take only applies to the portion of emission that childkey gets because of the parent stake

Example:

  • Childkey has 1000 TAO from parent and 1000 TAO from nominators
  • Validator emission for childkey is 10 TAO
  • Childkey take is 10% (in this example for simplicity)
  • Childkey take is 0.5 TAO, that is not distributed
  • 4.5 TAO goes to parent
  • 5 TAO goes to nominators

@mogmachine

gztensor avatar Nov 19 '24 20:11 gztensor