[Investigation]: VAL Supply

sora-xor / sora2-network

SORA is a new economic system aimed at creating a supranational, world economic system with built-in tools for decentralized finance (DeFi). The SORA network implements a new way of parachain architecture on Polkadot and Kusama network, with the capability to bridge external blockchains (like Ethereum) to the Polkadot ecosystem.

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[Investigation]: VAL Supply #406

Open Tieumsan opened 1 year ago

Tieumsan commented 1 year ago

Problem statement

There seems to be inconsistencies between the tokenomics envisioned for VAL and the actual behavior. The Community has questions about the supply of VAL and the amount burnt.

Definition of Done

[x] #407
[ ] #408
[ ] Report bugs if any

Methodology

Read and understand the envisioned tokenomics of VAL
Check and test the code and implementation of VAL (unit tests)
Create bug issues in case it is needed
Map the technical accounts linked to VAL and complete the new wiki with all the relevant information

Useful resources

No response

Nolan730 commented 1 year ago

these are the current tech wallets which holds val right now cnTQ1kbv7PBNNQrEb1tZpmK7iW5aLF24hi1k1H4t3L49TzhPe : 30294010.19 pre-launch(val airdrop) cnTQ1kbv7PBNNQrEb1tZpmK7m6B1ToDe2qJbdz7aQw8F3W1CK : 27978267.71 bridge cnTQ1kbv7PBNNQrEb1tZpmK7msmRPzj7rRo9bRrAhNkC7EDSi : 3177398.83 crowdloan wallet cnTQ1kbv7PBNNQrEb1tZpmK7f4sMKaWQF583on92JL48B9kjq : 1092148.55 dex0 pool cnTQ1kbv7PBNNQrEb1tZpmK7eE2hQTwktcdewhc55bpkDrYBX : 0.14 something with tbc

Nolan730 commented 1 year ago

cnTQ1kbv7PBNNQrEb1tZpmK7m6B1ToDe2qJbdz7aQw8F3W1CK bridge wallet also has extra 10082673 val which belongs to xor v1 holders. According to my findings, due to some complications/changes irohamigration tx minted new val for some wallet instead of transfering from this wallet. Some of this amount is extra.

Nolan730 commented 1 year ago

cnTQ1kbv7PBNNQrEb1tZpmK7msmRPzj7rRo9bRrAhNkC7EDSi migration for crowdloan triggered multiple times and resulted with multiple minted rewards at this wallet. According to my findings, it triggered 5 times so there should be extra 2 705 572 val in this wallet. But there is some weirdness in this because there is still 471 826 unclaimed val(%65 of rewards) crowdloan reward in this wallet while it should be claimable by people already. Need to cross check with claimable rewards.

Nolan730 commented 1 year ago

cnTQ1kbv7PBNNQrEb1tZpmK7m6B1ToDe2qJbdz7aQw8F3W1CK

I have examples for this at serious chat: https://t.me/c/1343491623/43331

this is from early days of blockchain and irohamigration(val for xor v1 holders) directly mints it https://sora.subscan.io/extrinsic/0xa215dd5a24ae006763fd425c3a3a7b7af1993682bbef3ecbf80010c462966de7

this is from 5(11 now) months ago and irohamigration transfers from bridge https://sora.subscan.io/extrinsic/0x2ffbc1235d4c8d66e68d49edae4adb49b5f5484c9e636f4795e197434aaac383