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FIP-0100: artificially bump calibnet circulating supply up further to match mainnet #1133

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rvagg merged 2 commits into from
Mar 14, 2025
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FIP-0100: artificially bump calibnet circulating supply up further to match mainnet #1133

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FIP-0100: artificially bump calibnet circulating supply up further to…
rvagg Mar 7, 2025
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fixup! FIP-0100: artificially bump calibnet circulating supply up fur…
rvagg Mar 12, 2025
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10 changes: 6 additions & 4 deletions FIPS/fip-0100.md
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Expand Up @@ -458,13 +458,15 @@ Because this FIP uses a fixed portion of current circulating supply to calculate

To address this problem, this FIP will also adjust network parameters for Calibnet to ensure that the circulating supply is a reasonable and dynamic positive number. The core problem is the initial allocation of reserve funds which appears to have been set to 900M FIL. This was likely set to ensure a total supply of 2B FIL. Unfortunately, implementations use the same `InitialFilReserved` value as mainnet, 300M FIL.

Filecoin node implementations compatible with Calibnet will be required to set their `InitialFilReserved` for Calibnet (only) to `900,000,000` FIL **from the activation epoch of this FIP** (i.e. a value of `300,000,000` FIL must be used for epochs up until then, including when re-executing older tipsets). This will result in a more appropriate circulating supply calculation starting from the activation epoch of this FIP:
The goal of Calibnet is to provide an approximation of Mainnet for testing purposes, currently the circulating supply calculation calculation makes that impossible. By setting the `InitialFilReserved` value to 900M FIL, the circulating supply calculation will become accurate for that network, but still be nearly 400M FIL lower than Mainnet. This FIP proposes to artificially inflate the circulating supply to more closely match the current mainnet conditions and be a more useful model for testing: using a value of 1,200M for `InitialFilReserved` will result in a circulating supply of 695.8M FIL, which is close to the current mainnet value.

Filecoin node implementations compatible with Calibnet will be required to set their `InitialFilReserved` for Calibnet (only) to `1,200,000,000` FIL (whole) **from the activation epoch of this FIP** (i.e. a value of `300,000,000` FIL must be used for epochs up until then, including when re-executing older tipsets). This will result in a more useful circulating supply calculation value starting from the activation epoch of this FIP:

| Metric | Mainnet (FIL) | Calibnet (FIL) |
|-----------------------|--------------:|---------------:|
| `InitialFilReserved` | 300,000,000 | 900,000,000 |
| `FilReserveDisbursed` | 17,066,619 | 30,721,729 |
| `FilCirculating` | 686,539,216 | 386,866,636 |
| `InitialFilReserved` | 300,000,000 | 1,200,000,000 |
| `FilReserveDisbursed` | 17,066,619 | 330,721,729 |
| `FilCirculating` | 686,539,216 | 686,866,636 |

## Design Rationale

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