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block_rewards_distribution

Block Rewards & Distribution

The block rewards in Qortal are distributed evenly, regardless of the minter who actually finds the block. The rewards, instead, are based on the level of the minter as far as who receives more or less of every block.

Behold, the Official QORT Coin:

More about QORT on the The QORT Coin page.

Minting Levels

The first accounts able to level are the minters of Qortal. Minting is extremely important to the system, as it is the way that blocks are found, and the chain progresses forward. Without the minters, the chain doesn't move.

Due to the extreme importance of the minters, they are rewarded with the block rewards on the system. The rewards of every block, are split via the following:

- Levels 1 and 2 minting accounts will obtain 5% of the block reward.
- Levels 3 and 4 will obtain 10% of the block reward
- Levels 5 and 6 will obtain 15% of the block reward
- Levels 7 and 8 will obtain 20% of the block reward
- Levels 9 and 10 will obtain 25% of the block reward
- QORA holders transitioning into QORT coin will obtain 20% of the block reward
- Founders will obtain a minimum of 5% of the block reward, and/or the 'leftover' percentage, which initially will be higher when there aren't users in all of the various level groups, and will decrease over time.

Block Rewards

The block rewards on Qortal are meant to be never-ending. Since QORT is a coin on chain, there should always be new QORT available to power the various services on the network.

No Total Cap on QORT coin, every ‘6 months’ there is a decrease in block reward from its start at 5 QORT, by .25, until 2 QORT is the reward. Thereafter, a vote can be made with the suggestion of an increase or decrease of 0.25 to 1 QORT difference per block via vote, however, this type of vote can only take place one time per ‘year’ (in blocks). For example, if the current block reward was 3 QORT, the vote could only be: 2, 2.25, 2.5, 2.75, 3, 3.25, 3.5, 3.75 & 4 QORT. (Only up to a 1 QORT difference up or down or any 0.25 increment between.) Block reward can only be voted to as low as 1 QORT per block, or as high as 5 QORT per block. These are the minimum and maximum block reward range Qortal will EVER potentially see. We are currently at 4.75 QORT per block.

Reward Schedule and Reduction

Block 1+ Reward: 5.00

Block 259,201+ Reward: 4.75

Block 518,401+ Reward: 4.50

Block 777,601+ Reward: 4.25

Block 1,036,801+ Reward: 4.00

Block 1,296,001+ Reward: 3.75

Block 1,555,201+ Reward: 3.50

Block 1,814,401+ Reward: 3.25

Block 2,073,601+ Reward: 3.00

Block 2,332,801+ Reward: 2.75

Block 2,592,001+ Reward: 2.50

Block 2,851,201+ Reward: 2.25

Block 3,110,401+ Reward: 2.00

block_rewards_distribution.txt · Last modified: 2021/05/29 20:21 by gfactor