Update CIP-29 inflation schedule to move reduction from yr 1.5 to yr 1.75 #335
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…ear 1.75 - Year 1.5 now continues original schedule at 7.20% inflation - Year 1.75 becomes the new point where 33% reduction takes effect (4.914%) - Updated both inflation schedule and APR tables accordingly 🤖 Generated with [Claude Code](https://claude.ai/code) Co-Authored-By: Claude <[email protected]>
jcstein
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Summary of Changes
Hello @jcstein, I'm Gemini Code Assist1! I'm currently reviewing this pull request and will post my feedback shortly. In the meantime, here's a summary to help you and other reviewers quickly get up to speed!
This pull request updates the CIP-29 inflation schedule by delaying the planned 33% inflation reduction. The reduction, originally set for Year 1.5, will now take effect at Year 1.75. This change impacts both the core inflation rate table and the associated APR tables, ensuring the documentation accurately reflects the revised economic model.
Highlights
- Inflation Schedule Adjustment: The point at which the 33% inflation reduction takes effect has been shifted from Year 1.5 to Year 1.75 within the CIP-29 document.
- Inflation Rate at Year 1.5: The inflation rate for Year 1.5 has been reverted to the original schedule's 7.20%, removing the previously planned reduction at this point.
- New Inflation Rate at Year 1.75: A new entry for Year 1.75 has been added, showing the 33% inflation reduction taking effect, resulting in a rate of 4.914%.
- APR Table Updates: The corresponding APR tables have been updated to reflect these changes, specifically showing the higher rates at Year 1.5 and the new reduced rates at Year 1.75.
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Code Review
The pull request updates the inflation schedule in CIP-29, shifting the reduction point from year 1.5 to 1.75. There's an inconsistency in the inflation rate for year 1.75, where the value 4.914% doesn't align with the formula and subsequent values. This affects the main inflation schedule and the APR table. A typo was also noted.
| | **1** | 7.20 | 7.20 | | | ||
| | **1.5** | 7.20 | 5.00088 | Reduce year 0 inflation by 33% and additionally apply 6.7% disinfaltion, lowering the inflation rate to 5.00088% | | ||
| | **1.5** | 7.20 | 7.20 | | | ||
| | **1.75** | 7.20 | 4.914 | Reduce year 0 inflation by 33% and additionally apply 6.7% disinfaltion, lowering the inflation rate to 4.914% | |
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The inflation value 4.914 appears inconsistent with the formula I(y) = 0.0536 * (0.933)^y and subsequent values. For year 1.75, the formula yields approximately ~5.00%. The value for year 2 (4.66582) aligns with ~5.00%, not 4.914. Please double-check the value 4.914 and update the derivation logic if needed. Also, "disinfaltion" should be "disinflation".
| | **1** | 7.2 | 20.57 | 14.4 | 11.08 | | ||
| | **1.5** | 5.00088 | 14.2882 | 10.0018 | 7.69366 | | ||
| | **1.5** | 7.2 | 20.57 | 14.4 | 11.08 | | ||
| | **1.75** | 4.914 | 14.04 | 9.828 | 7.56 | |
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These APR values are calculated based on the 4.914 inflation rate from the table above. If that value is corrected, these APR values will also need to be updated accordingly.
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Overview
🤖 Generated with Claude Code
Todo
Resolves #334