Grant round 2019-04 - Calculating FCT available in pool

Hi @Guides,

Its time to calculate the exact payout block and FCT to disperse in grant round 2019-04. It needs to be published by the guides tomorrow, 12th of November at 23:59.

I believe we need to use a block divisible by 25, is that right @Brian Deery?


Calculating payout block:

At the time of publishing the exact numbers (2019-11-12, 23:59) we'll be at approximately block 218 500, which I suggest we use for the calculations going forward.

I suggest we aim for a payout block that sits late in the day on 2019-12-01, so lets start by adding 100 blocks to our number to get 218 600.

From 2019-11-13 (in the afternoon) to 2019-12-01 (in the afternoon) there are 18 days.

18 days x 144 blocks per day = 2592 blocks...

218 600 + 2592 = 221 192.....

Lets round that up to 221 200 which is divisible by 25. I suggest this to be our payout block (see edit at the end of the post. Activation height will be 220 200).


Calculating amount to be paid out:

As of writing this post the block height is 218 335 and the amount of FCT in the pool is 88 390.

Pool daily growth is 1217 FCT according to factoshi.io, i.e 8.451 FCT per block.

From current block 218 336 to the payout block 221 200 there are 2864 blocks.

2864 blocks x 8.451 FCT = 24 203 newly minted FCT to the pool from now until payout.

I suggest we use a security factor of 3% to account for drops in efficiency, which applied (24 203 x 0.97) means we'll add 23 477 FCT to the pool until payout.

That gives us the calculation 88 390 FCT (current value) + 23 477 FCT (added until payout) = 111 867 FCT available in the pool.

The core committee has been awarded 1000 FCT already which is held by the grant pool, so 1000 FCT has to be subtracted from the number above.

This yield a final number of 110 867 FCT available in the grant pool to be dispersed in block 221 200.

Edit: The activation block is 1000 blocks prior to payout, so that would be 220 200 (also divisible by 25).


This is back-of-the-napkin calculations, so I'd appreciate input from all the other guide as well as other community members better at math than yours truly.

-- Tor


Edit 2: Forgot to subtract 1000 FCT held by Core committee. Numbers updated now.
 
Last edited:
I have checked the math. The payout block of 221200 is the correct timeframe. Lets add one to make 221201 the payout so it will go through though. The numbers for the grant pool additions I have from Luap's site were slightly lower than the one from factoshi. https://luciap.ca/#/authority-set 8.448 FCT/block instead of your 8.451.

With the 3% safetey factor, I calculated an available grant amount of 111844, subtracting 1000 for the outstanding grant gives 110844 FCT.
 
I have checked the math. The payout block of 221200 is the correct timeframe. Lets add one to make 221201 the payout so it will go through though. The numbers for the grant pool additions I have from Luap's site were slightly lower than the one from factoshi. https://luciap.ca/#/authority-set 8.448 FCT/block instead of your 8.451.

With the 3% safetey factor, I calculated an available grant amount of 111844, subtracting 1000 for the outstanding grant gives 110844 FCT.
Thanks Brian.

So it looks like we go with 110 844 FCT to be paid in block 221201 with activation in block 220 201.


I'd like one more of the @Guides to look this over before we decide on these numbers.
 
This looks fine to me. As mentioned before, the only real issue I could foresee is the 3% potential Efficiency change factor, but as discussed earlier, we can always activate or pay out at a later block in a worst case scenario.

@Tor -- Your math is sound, and @Brian, I agree with the grand total FCT's available at 110,844 FCT.
 
Top