By Bob Miles (Co-founder & CEO)
When we published our Milestone 3 architecture, daily on-chain burns were at the heart of the system, and this needs testing. The full settlement engine is still being built, but we didn't want to wait for it before we started burning... and we've already caught and fixed some unexpected behaviour! As of this week, Salad is burning RENDER on chain every day as part of an ongoing test. Again, this is not the full BME implementation!
Each UTC day is a burn epoch for Salad Container Engine (SCE). When the day closes, we price that day's Chef payouts and usage revenue at the same 24-hour TWAP we use for Chef rewards. Then we send that amount of RENDER to the Render Network burn address on Solana. Render mints back the Chef payout portion, and the rest stays burned. We're starting incrementally and will step up from there. Salad Gateway Service (SGS) will settle monthly, and its first burn, covering November, goes out in December.
The process is automated, but it has checks. If a day's numbers look wrong, that day's burn is held for a person to review. We'd rather hold a day than burn a bad number.
These daily burns are a bridge, allowing us at Salad to get comfortable on chain. Milestone 3 will replace them with full BME settlement: escrowed customer deposits, metered usage settled on chain, and Chef rewards paid from the Reward Pool.
Questions or ideas? Find us in the Salad Discord, the Render Network Discord, or open a discussion on the RNP repo.