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My question is regarding the description of the EMA in this blog post from Nomadic Labs. Under "Activation Vote":

The Voting phase is driven by an Exponential moving average (EMA) whose half-life is 2 weeks. That is, it takes two weeks for the EMA to raise from 0% to 50% assuming only On votes are cast.

The target threshold is a supermajority of 80% of On votes over On plus Off votes.

I'm not clear on the relationship between the supper-majority and the EMA. Is a super-majority required to progress the EMA?

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The EMA represents an average of the opinion of bakers. It ranges in the 0% - 100% interval (0% means no baker votes On, 100% means no baker votes Off) and it is updated in each block.

Also in each block, the protocol checks if the value of the EMA is above 80%. If the EMA is above 80%, we say that the super-majority is reached and some things happen (essentially, adaptive issuance is set to activate a few cycles later).

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  • Do I understand correctly that, given the 2 week half life, activation would require more than 80% of "on"/"off" votes to reach an 80% EMA?
    – Phil
    Sep 14 at 12:20
  • Activation requires 80% of "on"/("on" + "off").
    – Raphaël Cauderlier
    Sep 18 at 20:45

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