By Jan Smit
The first Public Guidance Price (PGP) for RAM purchases on the Telos chain will be set to 0.1 TLOS per kB. The purpose of the PGP is to provide DApps with a stable and competitive RAM price. The Telos Foundation (of which the RAM Administration is an integral part) may decide to support qualified DApps with RAM purchases if the actual RAM price deviates more than 10% from this PGP. While setting the PGP, the following has been taken into consideration:
- The Telos chain is planned to activate on December 19th at 14:33 UTC. Only thereafter will we know the market price of the TLOS token.
- The EOS chain experienced a volatile RAM market after its launch in June 2018. The EOS chain subsequently stabilized at the end of August 2018 at a level of around 60% RAM reserved.
- The Telos Launch Group has decided to reserve 4.2 GB of RAM (on top of the genesis accounts) in order to maintain from the start a similar % of RAM reserved. This corresponds with a RAM price of 0.1 TLOS per kB. The RAM Administration will sell its 4.2 GB reserve in steps when the RAM price exceeds the PGP by more than an acceptable margin.
- After the RAM reserve has been depleted the RAM Director will whenever needed call adhoc meetings to advise blockproducers to increase the amount of RAM with immediate effect. Note that the RAM growth rate (setramrate) will be set to 0 bytes per block initially.
- In addition the RAM Administration may intervene at its own discretion through short term trades from its permanent reserves and / or set a new PGP.
The next scheduled PGP update will be after 10 Mln blocks (59 days) on Tuesday 12 February 2019.
– The interim RAM Administration Director
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