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DOI: 10.4230/OASIcs.Tokenomics.2019.10

F1 Fee Distribution

Authors: Dev Ojha and Christopher Goes

Published in: OASIcs, Volume 71, International Conference on Blockchain Economics, Security and Protocols (Tokenomics 2019)

Abstract

In a proof of stake blockchain, validators need to split the rewards gained from transaction fees each block. Furthermore, these fees must be fairly distributed to each of a validator’s constituent delegators. Delegators accrue this reward throughout the entire time which they are delegated, and they have a special operation to withdraw accrued rewards. The F1 fee distribution scheme works for any algorithm to split fees and inflation between validators each block, with minimal iteration, and the only approximations being due to finite decimal precision. Per block there is a single iteration over the validator set, to enable reward algorithms that differ by validator. No iteration is required to delegate or to withdraw. The state usage is one state update per validator per block and one state entry per active delegation. F1 can optionally handle arbitrary inflation schemes, auto-bonding of rewards, and varying validator commission rates.

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Dev Ojha and Christopher Goes. F1 Fee Distribution. In International Conference on Blockchain Economics, Security and Protocols (Tokenomics 2019). Open Access Series in Informatics (OASIcs), Volume 71, pp. 10:1-10:6, Schloss Dagstuhl – Leibniz-Zentrum für Informatik (2020)

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@InProceedings{ojha_et_al:OASIcs.Tokenomics.2019.10,
  author =	{Ojha, Dev and Goes, Christopher},
  title =	{{F1 Fee Distribution}},
  booktitle =	{International Conference on Blockchain Economics, Security and Protocols (Tokenomics 2019)},
  pages =	{10:1--10:6},
  series =	{Open Access Series in Informatics (OASIcs)},
  ISBN =	{978-3-95977-108-5},
  ISSN =	{2190-6807},
  year =	{2020},
  volume =	{71},
  editor =	{Danos, Vincent and Herlihy, Maurice and Potop-Butucaru, Maria and Prat, Julien and Tucci-Piergiovanni, Sara},
  publisher =	{Schloss Dagstuhl -- Leibniz-Zentrum f{\"u}r Informatik},
  address =	{Dagstuhl, Germany},
  URL =		{https://drops-dev.dagstuhl.de/entities/document/10.4230/OASIcs.Tokenomics.2019.10},
  URN =		{urn:nbn:de:0030-drops-119749},
  doi =		{10.4230/OASIcs.Tokenomics.2019.10},
  annote =	{Keywords: Proof of Stake, Fee Distribution, Cosmos}
}

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F1 Fee Distribution

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