• Proposal Name: NEAR economics specs
  • Start Date: 2020-02-23
  • NEP PR: nearprotocol/neps#0000
  • Issue(s): link to relevant issues in relevant repos (not required).

Summary

Adding economics specification for NEAR Protocol based on the economics paper - https://nearprotocol.com/papers/economics-in-sharded-blockchain/

Motivation

Currently, the specification is defined by the implementation in https://github.com/nearprotocol/nearcore. This codifies all the parameters and formulas and defines main concepts.

Guide-level explanation

The goal is to build a set of specs about NEAR token economics, for analysts and adopters, to simplify their understanding of the protocol and its game-theoretical dynamics. This initial release will be oriented to validators and staking in general.

Reference-level explanation

This part of the documentation is self-contained. It may provide material for third-party research papers, and spreadsheet analysis.

Drawbacks

We might just put this in the NEAR docs.

Rationale and alternatives

Unresolved questions

Future possibilities

This is an open document which may be used by NEAR's community to pull request a new economic policy. Having a formal document also for non-technical aspects opens new opportunities for the governance.