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# System prepended metadata

title: MinterV2 Upgrade 5/22/23

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# MinterV2 Upgrade 5/22/23
In April, RAMSES made the decision to increase the rebase floor from 5% to 50%, resulting in adjustments to the minimum and maximum rebases as follows:
- **From:** 5%->25% maximum rebase
- **To:**  50% -> 75% maximum rebase

This modification to the rebase has been well received and has proven to enhance the system's efficiency.

## Addressing Current Challenges
### The upcoming minter upgrade aims to overcome two existing economic and technological hurdles:
1. **Emissions Curve Truncation:** The increased rebase inadvertently caused the emissions curve to be truncated, reducing the number of epochs from approximately 90 to around 40-45. Consequently, a **DRASTIC** drop in emissions occurred when the terminal supply was reached. This sudden decrease from 3.2 million Ram/week to 1 million Ram/week can have unintended consequences for the protocol's health. See the **CURRENT** emissions curve below:

    ![](https://hackmd.io/_uploads/BJ6F6UPr2.png)

2. **Unsustainable Partner Incentives:** The ecosystem incentives funds have been used to offer increased rebases to partners based on their commitment to RAMSES' growth. However, this approach is not sustainable and has limited our ability to onboard new partners due to the insufficient availability of veRAM.
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## Introducing Changes
### To ensure the long-term growth and success of the platform, we are implementing several adjustments within the minter contract, aptly named 'MinterV2':

1. Emissions Curve Adjustment: We will be smoothing the curve to rectify the drastic drop-off caused by the increased rebase. The NEW emissions curve is depicted below:

![](https://hackmd.io/_uploads/BkVlyDvB3.png)
    With this change, the drop-off is now a more manageable halving from 2 million/week to 1 million/week, occurring around Epoch 91. **It is important to note that the total liquid supply and emissions of RAM will remain unchanged, as we are simply reverting to the original curve prior to the rebase increase.**
    
2. The RamsesPartnerRebaser Contract
    - We are introducing a partner rebaser contract to receive a portion of the emissions on a weekly basis. These emissions will be fully locked and dedicated to increasing rebases for existing trustworthy partners and facilitating the onboarding of new participants. The RamsesPartnerRebaser contract will have two functions: one to directly increase the veRAM size of an NFT and another to create_lock_for. These tokens will never enter the circulating supply and will be treated as locked on paper.
    - For enhanced security, any changes to this contract are protected by RamsesTimelock and hardcoded to prevent circumvention. Additionally, this contract is not proxied. The rebaser will receive 1 million RAM/week until the terminal supply (500 million RAM emissions) is reached. Afterward, the contract will be sunset and no longer receive any future emissions, as the contract logic restricts mints beyond a certain supply threshold.

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## Conclusion & TL;DR
The Minter contract is undergoing an upgrade to restore the emissions curve to its pre-rebase change state. Additionally, a new RamsesPartnerRebaser contract will receive temporary fully locked emissions on a weekly basis, benefiting loyal partners and supporting the RAMSES ecosystem.
