Key facts:
If approved, the reward payments will continue, but will not be available to spend.If no consensus is reached, the developers will return to activate the function of inflation.The representatives of the Stellar Development Foundation (SDF) launched this September 30, the elimination of the mechanism of inflation in the protocol Stellar Lumens (XLM) in a future update. The final decision will be taken in consultation between validators.Through a publication in a Medium, the organization explains that, initially, the inflation was introduced in the protocol XLM to support the projects of Stellar need and develop the ecosystem. However, they point out that users are not using for the purposes for which it was created
“Five years and millions of accounts after, it became clear that inflation was not used for this purpose. The majority of the users are grouped to receive payments in their accounts. Each week, the protocol creates new XLM. Each week, the majority of them are sent to individual accounts ”.Stellar Development Foundation
If a proposal is approved, the reward payments will continue, but will not be available for expenditure. The developers point out that technically the implementation of the solution is a trivial task, so that they are ready to abandon the inflation in the next update, which is scheduled for the end of October.If it does not reach a consensus on the update, the developers re-activate the role of inflation in the next version.
“If the network decides not to accept the update of the protocol deactivation of inflation, this is what will happen: we will create a new version of the protocol that is equal to the version 12, less the change to turn off the inflation, call it version 13, and sométala to vote. We will have to give time to all members of the ecosystem to installed the version 13, so that the subsequent vote on the upgrade of the network will not take place until within a few weeks, but the protocol will continue its march forward, without any damage, without missing.”Stellar Development Foundation
The proposal is that the validators work on your nodes to update the network to version 12 with date Monday, 28 October at 16:00 hours. At that time there will be a meeting in the channel of validators in Keybase to wait for the results about if you decide to, or not to disable the mechanism of inflation at the time of the update.It is now up to the community to vote for this proposal, with the added feature of inflation could lead to a problem of scaling of network in the future, as explained to the developers in the publication.Regarding the support for the new projects that was the purpose for which it was designed the protocol of inflation, the SDF notes that will provide education and technical assistance to the initiatives that are built on Stellar also offers scholarships quarterly to projects that build and maintain the infrastructure.In terms of inflation as collected by SDF, just point out that considering several options, without providing further details.At the beginning of September, the team of Stellar announced its partnership with the platform Keybase alliance that will enhance the distribution of 2,000 million lumens (XLM). The organizers stressed that the event will last 20 months and plans to benefit more than 300,000 users.In July, Stellar served five years focused on the primary purpose of providing a network on which it is to be able to create financial solutions long-range and low-cost for the unbanked. The development of the protocol is in the hands of Stellar Development Foundation, a non-profit organization that manages the changes and improvements of the platform.