This proposal enacts the new 1.11.1 runtime for Spiritnet. For more details about the new runtime, please check <a href="https://github.com/KILTprotocol/kilt-node/releases/tag/1.11.1" target="_blank" rel="noopener">the GitHub release notes</a>, which also contains the output of the SRTool to verify that the code hash submitted as part of the proposal matches the hash of the new runtime WASM code.
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The current referendum is on one upgrade that would include all the things mentioned, including extending delegator rewards for a year and recalculating the deposit. The delegators rewards would be 5.1% instead of the planned 0% for the third block year (staying in line with the initial Token Economy). Re: the deposit update: Since the service endpoints would each support 2 URLs, the maximum DID size would also be bigger than before. To accommodate, the base deposit of around 2 KILT would remain, but the deposit could increase depending on heavy usage (calculated automatically if you rotate/add keys or add service endpoints). For example, having 25 service endpoints would increase the deposit needed, up to a maximum of 4 KILT. If you later delete the service endpoints and the DID gets smaller again the extra deposit would be automatically refunded.

This proposal enacts the new 1.11.1 runtime for Spiritnet. For more details about the new runtime, please check [the GitHub release notes](https://github.com/KILTprotocol/kilt-node/releases/tag/1.11.1), which also contains the output of the SRTool to verify that the code hash submitted as part of the proposal matches the hash of the new runtime WASM code.

The current referendum is on one upgrade that would include all the things mentioned, including extending delegator rewards for a year and recalculating the deposit. The delegators rewards would be 5.1% instead of the planned 0% for the third block year (staying in line with the initial Token Economy). Re: the deposit update: Since the service endpoints would each support 2 URLs, the maximum DID size would also be bigger than before. To accommodate, the base deposit of around 2 KILT would remain, but the deposit could increase depending on heavy usage (calculated automatically if you rotate/add keys or add service endpoints). For example, having 25 service endpoints would increase the deposit needed, up to a maximum of 4 KILT. If you later delete the service endpoints and the DID gets smaller again the extra deposit would be automatically refunded.

- There is a proposal to update the Spiritnet runtime.
- The referendum is about making some changes, like extending rewards for a year and recalculating the deposit.
- The rewards for delegators would be 5.1% instead of 0%.
- The deposit might increase depending on how much the service is used.
- If the service is used less, the extra deposit will be refunded.

KILT Node 1.11.1 (Multisig Marvel)

No Active Proposals