ERC2917: Staking Reward Calculation #2917

skardas · 2020-08-28T14:35:50Z

ERC2917: Staking Reward Calculation

EIPS/eip-3000.md

MicahZoltu

Formatting/layout/sections should match https://raw.githubusercontent.com/ethereum/EIPs/master/eip-template.md.

Also, this doesn't seem like something that needs to be standardized. Each contract can do whatever they want for interest yields/staking, they don't have to all share a public surface area.

MicahZoltu · 2020-08-29T03:23:49Z

EIPS/eip-3000.md

+category: ERC
+status: Draft
+created: 2020-08-28
+discussions-to: https://github.com/ethereum/EIPs/issues/3000


Please keep the header in the order in the template for consistency purposes.

https://raw.githubusercontent.com/ethereum/EIPs/master/eip-template.md

MicahZoltu · 2020-08-29T03:24:10Z

EIPS/eip-3000.md

+---
+## Simple Summary
+ERC3000 is a new standardization for on-chain calculation of staking reward.
+## Abstract


Suggested change

## Abstract

## Abstract

MicahZoltu · 2020-08-29T03:24:28Z

EIPS/eip-3000.md

+
+

Delete one of these newlines.

MicahZoltu · 2020-08-29T03:26:00Z

EIPS/eip-3000.md

+One of the main drawbacks of many DeFi projects is the reward distribution mechanism within the smart contract. In fact, there are two main mechanisms are adopted so far.
+1.	Distribution of rewards is only given when all users exit the contract
+2.	The project collects on-chain data, conducts calculation off-chain, and sends the results
+to the chain before starting rewards distribution accordingly
+
+The first approach conducts all calculation in an on-chain fashion, the cycle of its rewards distribution is too long. Furthermore, users need to remove their collateral before getting the rewards, which can be harmful for their rewards. The second approach is a semi-decentralized model since the main algorithm involves an off-chain computation. Therefore, the fairness and transparency properties cannot be reflected and this can even create the investment barrier for users.


I would like to see an addition to the motivation section that explains why this needs to be standardized. Keep in mind, not all good ideas need to be standards, many good ideas can just be good ideas.

MicahZoltu · 2020-08-29T03:26:11Z

EIPS/eip-3000.md

+
+

Remove extraneous whitespace.

MicahZoltu · 2020-08-29T03:27:20Z

EIPS/eip-3000.md

+
+

Extraneous whitespace. (you may want to look into fixing your enter key 😉)

MicahZoltu · 2020-08-29T03:27:45Z

EIPS/eip-3000.md

+
+### mint
+it mints the amount of interests will transfer to callee's address. It returns the amount of interests minted.
+### Implementation


Suggested change

### Implementation

## Rationale

TBD

## Implementations

MicahZoltu · 2020-08-29T03:28:22Z

EIPS/eip-3000.md

+
+- [ERC3000 Demo](https://github.com/gnufoo/ERC3000-Proposal)
+
+## Copyright


Suggested change

## Copyright

## Security Considerations

TBD

## Copyright

@MicahZoltu

-Updated according to rules -Removed extra white spaces -Added some extra sections -Add some motivation to be standardized @MicahZoltu

MicahZoltu

The spelling errors need to be fixed before the bot will let this through, but otherwise it seems properly formatted. I recommend finding a different name for it besides ERC3000 since that will be highly confusing to users as this EIP won't end up with the number 3000 and vanity numbers have historically not been allowed.

MicahZoltu · 2020-08-30T07:05:17Z

EIPS/eip-2917.md

+---
+
+## Simple Summary
+ERC3000 is a new standardization for on-chain calculation of staking reward.


ERC3000 it will be confusing to readers if this isn't the actual EIP number. People have tried to snag vanity EIP numbers in the past and we have disallowed it because it leads to an arms race that just clogs up the EIP process. My recommendation is to come up with a snazzy title rather than trying to get a vanity number.

Same comment for the other references to ERC3000.

MicahZoltu · 2020-08-30T07:07:53Z

EIPS/eip-2917.md

+
+    /// @notice Change the current contract's interests rate.
+    /// @dev Note the best practice will be restrict the gross product provider's contract address to call this.
+    /// @return The true/fase to notice that the value has successfully changed or not, when it succeed, it will emite the InterestRatePerBlockChanged event.


Suggested change

/// @return The true/fase to notice that the value has successfully changed or not, when it succeed, it will emite the InterestRatePerBlockChanged event.

/// @return The true/false to notice that the value has successfully changed or not, when it succeed, it will emite the InterestRatePerBlockChanged event.

MicahZoltu · 2020-08-30T07:08:18Z

EIPS/eip-2917.md

+    /// @return amount of interests and the block height.
+    function takeWithBlock() external view returns (uint, uint);
+
+    /// @notice mint the avaiable interests to callee.


Suggested change

/// @notice mint the avaiable interests to callee.

/// @notice mint the available interests to callee.

MicahZoltu

Sorry, missed the discussion-to link just pointing at this EIP.

@lightclient How hard would it be to have the checker detect this? There are a couple forms of the link, but seems like it shouldn't be too hard?

MicahZoltu · 2020-08-30T07:11:36Z

EIPS/eip-2917.md

+eip: 2917
+title: Staking Reward Calculation
+author: Tony Carson <tony.carsonn@gmail.com>, Mehmet Sabir Kiraz <m.kiraz@gmail.com>, Süleyman Kardaş <skardas@gmail.com>
+discussions-to: https://github.com/ethereum/EIPs/issues/2917


Discussion-to cannot link to the original PR itself. You can create a GitHub issue for discussion, or you can create a thread on Ethereum Magicians or somewhere else.

MicahZoltu

Back to approved pending automated checks passing (spelling). Keep in mind this won't likely be eligible for last call until the ERC3000 terminology is removed or changed to ERC2917.

lightclient · 2020-08-30T15:56:36Z

@lightclient How hard would it be to have the checker detect this? There are a couple forms of the link, but seems like it shouldn't be too hard?

It's actually already implemented, but it's turned off. Many early EIPs don't have discussion-to fields and so I was trying to decide the best way to handle them.

axic · 2020-08-30T17:00:38Z

It's actually already implemented, but it's turned off. Many early EIPs don't have discussion-to fields and so I was trying to decide the best way to handle them.

I'd suggest two rules:

Ignore it for anything marked Final/Superseded/Abandoned.
Add an explicit exclusion list for eips, i.e. a way to disable this check for a set of EIPs, and include those which are missing it currently, but are merged.

Then slowly we can bug those which don't have it, or enforce it on any change to an EIP not having it (i.e. any modification to the draft would not be auto-merged until this field is added). Or a bot could complain irrespective to eipv. This can be done incrementally.

lightclient · 2020-08-30T17:20:06Z

Good idea, thanks @axic.

ERC2917 is a new standardization for on-chain calculation of staking reward.

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skardas changed the title ~~master~~ ERC3000 : Staking Reward Calculation Aug 28, 2020

skardas changed the title ~~ERC3000 : Staking Reward Calculation~~ ERC3000: Staking Reward Calculation Aug 28, 2020

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MicahZoltu suggested changes Aug 29, 2020

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-Rename EIP proposal id

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-Updated according to rules -Removed extra white spaces -Added some extra sections -Add some motivation to be standardized @MicahZoltu

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skardas changed the title ~~ERC3000: Staking Reward Calculation~~ ERC2917: Staking Reward Calculation Aug 30, 2020

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skardas requested a review from axic August 30, 2020 08:34

MicahZoltu merged commit 42b9ea8 into ethereum:master Aug 30, 2020

lightclient mentioned this pull request Aug 30, 2020

Improve ignore logic ethereum/eipv#10

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tkstanczak pushed a commit to tkstanczak/EIPs that referenced this pull request Nov 7, 2020

ERC2917: Staking Reward Calculation (ethereum#2917)

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ERC2917 is a new standardization for on-chain calculation of staking reward.

Arachnid pushed a commit to Arachnid/EIPs that referenced this pull request Mar 6, 2021

ERC2917: Staking Reward Calculation (ethereum#2917)

8657152

ERC2917 is a new standardization for on-chain calculation of staking reward.

mryalamanchi mentioned this pull request Feb 20, 2022

Require that discussions-to points to Ethereum Magicians ethereum/eipv#43

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ERC2917: Staking Reward Calculation #2917

ERC2917: Staking Reward Calculation #2917

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axic commented Aug 30, 2020

lightclient commented Aug 30, 2020

-### Implementation
+## Rationale
+TBD
+## Implementations


		- [ERC3000 Demo](https://github.com/gnufoo/ERC3000-Proposal)

		## Copyright

	/// @return The true/fase to notice that the value has successfully changed or not, when it succeed, it will emite the InterestRatePerBlockChanged event.
	/// @return The true/false to notice that the value has successfully changed or not, when it succeed, it will emite the InterestRatePerBlockChanged event.

	/// @notice mint the avaiable interests to callee.
	/// @notice mint the available interests to callee.

ERC2917: Staking Reward Calculation #2917

ERC2917: Staking Reward Calculation #2917

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