# Council Motion 61: Updating Tinlake Rewards Allocation 2023-03

**URL:** <https://gov.centrifuge.io/t/council-motion-61-updating-tinlake-rewards-allocation-2023-03/5316>\
**Category:** Proposals\
**Tags:** council-motion, tinlake, 2023, apr\
**Created:** [April 4, 2023, 11:07pm UTC](https://gov.centrifuge.io/t/council-motion-61-updating-tinlake-rewards-allocation-2023-03/5316 "2023-04-04T23:07:05Z")\
**Posts on this page:** 3\
**Page:** 1

<div class="post-metadata">

**Author:** ![ImdioR](https://dub1.discourse-cdn.com/flex013/user_avatar/gov.centrifuge.io/imdior/32/1011_2.png) [@ImdioR](https://gov.centrifuge.io/u/ImdioR)\
**Post date:** [April 4, 2023, 11:07pm UTC](https://gov.centrifuge.io/t/council-motion-61-updating-tinlake-rewards-allocation-2023-03/5316/1 "2023-04-04T23:07:05Z")

</div>

Councillors,

The OpenSquare Snapshot for [Updating Tinlake Rewards Allocation (CP40)](https://voting.opensquare.io/space/centrifuge/proposal/QmVsFJLpacuNFEgMuYzhZ3sZyVdmELvvqPsXQzgWqpwjHT)) has passed and a Council motion has been created.

Council Motion 61 is now live: [SubSquare](https://centrifuge.subsquare.io/council/motion/61)

The proposal has the following hash: `0x384751fd17243c97b555eab548958b1ea3e2a7219669c2b97e9f65bf346010ae`  
The proposal text can be found at: [IPFS](https://gateway.pinata.cloud/ipfs/QmTQEcQHtVmTdeT5vBNQ7HuYA8QUNyKDH6WQM9SL9U7Jhj)

```auto
Proposal Text:
# Updating Tinlake Rewards Allocation 2023-03
By casting your vote on-chain, you indicate your approval of changing the Tinlake Rewards on Centrifuge as follows:

1. Mint approximately 1’900’000 CFG into the rewards account 4dpEcgqJNczMyoTnUuFTyTLSe5RuoSSoGZMqu3L6fvc8jBbd (set balance to 8,275,000 CFG)
2. Set rewards rate for TIN at 0.000225 CFG/DAI per day
2. Keep the same rewards rate for DROP at 0.0003 CFG/DAI per day
3. Keep the same rewards rate for Asset Originator rewards at 0.0000 CFG/DAI per day

These values will be valid until governance proceeds with another vote.

```

## References

1. [RFC](https://gov.centrifuge.io/t/rfc-updating-tinlake-rewards-allocation-2023-03/5213)
2. [GitHub](https://github.com/centrifuge/cps/blob/main/cps/CP40.md)
3. [Opensquare Snapshot CP40](https://voting.opensquare.io/space/centrifuge/proposal/QmVsFJLpacuNFEgMuYzhZ3sZyVdmELvvqPsXQzgWqpwjHT)

@cassidy @mikiquantum @lucasvo @branan @Yarosl6 @prankstr25 @Ash @vedhavyas @thespaceacatjr

Please vote at your earliest convenience, Councillors.  
Thank you.

---

<div class="post-metadata">

**Author:** ![ImdioR](https://dub1.discourse-cdn.com/flex013/user_avatar/gov.centrifuge.io/imdior/32/1011_2.png) [@ImdioR](https://gov.centrifuge.io/u/ImdioR)\
**Post date:** [April 9, 2023, 9:07pm UTC](https://gov.centrifuge.io/t/council-motion-61-updating-tinlake-rewards-allocation-2023-03/5316/2 "2023-04-09T21:07:49Z")

</div>

Referendum #31 is not live.

 ![image](https://europe1.discourse-cdn.com/flex013/uploads/centrifuge1/original/2X/f/f4aee7eb36d3c30b0c7654bddd7ca6fd5c023dcf.png)  
Please vote at your earliest convenience.  
Thank you.

---

<div class="post-metadata">

**Author:** ![ImdioR](https://dub1.discourse-cdn.com/flex013/user_avatar/gov.centrifuge.io/imdior/32/1011_2.png) [@ImdioR](https://gov.centrifuge.io/u/ImdioR)\
**Post date:** [April 16, 2023, 11:39pm UTC](https://gov.centrifuge.io/t/council-motion-61-updating-tinlake-rewards-allocation-2023-03/5316/3 "2023-04-16T23:39:50Z")

</div>

Referendum #31 has successfully passed - [Subscan | Aggregate Substrate ecological network high-precision Web3 explorer](https://centrifuge.subscan.io/referenda/31)

 ![image](https://europe1.discourse-cdn.com/flex013/uploads/centrifuge1/original/2X/b/b45e7bb937ea6dd39775667e94c9be0aa59000a5.png)

The result:

- Aye (129) - 7.3048 MCFG
- Nay (1) - 244.9000 CFG

Thank you for your participating.