Participate in Phala Network governance using PHA tokens and democratic processes.
proposeSpend
and enter the desired amount and recipient:
close_tip
extrinsic, and the tip will be paid out.
There are two types of tips: public and tipper-initiated. With public tips, a small bond is required to place them. This bond depends on the tip message length, and a fixed bond constant defined on chain, currently 1. Public tips carry a finder’s fee of 20% which is paid out from the total amount. Tipper-initiated tips, i.e. tips that a Council member published, do not have a finder’s fee or a bond.
To better understand the process a tip goes through until it is paid out, let’s consider an example.
report_awesome
extrinsic. This extrinsic requires two arguments, a reason and the address to tip. Alice submits Bob’s address with the reason being a UTF-8 encoded URL to a post on Phala forum that explains her reasoning for why Bob deserves the tip.
As mentioned above, Alice must also lock up a deposit for making this report. The deposit is the base deposit as set in the chain’s parameter list plus the additional deposit per byte contained in the reason. This is why Alice submitted a URL as the reason instead of the explanation directly, it was cheaper for her to do so.
For her trouble, Alice is able to claim the eventual finder’s fee if the tip is approved by the tippers.
Since the tipper group is the same as the Council, the Council must now collectively (but also independently) decide on the value of the tip that Bob deserves.
Charlie, Dave, and Eve all review the report and make tips according to their personal valuation of the benefit Bob has provided for Phala.
Charlie tips 10 PHA . Dave tips 30 PHA . Eve tips 100 PHA.
The tip could have been closed out with only two of the three tippers. Once more than half of the tippers group have issued tip valuations, the countdown to close the tip will begin. In this case, the third tipper issued their tip before the end of the closing period, so all three were able to make their tip valuations known.
Now the actual tip that will be paid out to Bob is the median of these tips, so Bob will be paid out 30 PHA from the Treasury.
In order for Bob to be paid his tip, some account must call the close_tip
extrinsic at the end of the closing period for the tip. This extrinsic may be called by anyone.
Award_bounty
, making sure the right bounty is to be closed and finally sign the transaction. It is important to note that those who received a reward after the bounty is completed, must claim the specific amount of the payout from the payout address, by calling Claim_bounty
after the curator closed the allocation.