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qort_model_-_block_rewards

Qortal Block Rewards and Distribution

The block rewards in QORT 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.

See distribution chart below (taken from Leveling System):

Minting Levels

The first accounts able to level, are the minters of QORT. 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 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 QORT are meant to be never-ending.

Since QORT is a service token, there should always be new tokens available to power the various services on the network.

The initial block reward will be 5 QORT, and shall decrease roughly evern 6 months (counted in blocks) until reaching a reward of 2 QORT where it remains.

The only modification of this from that point, will come through a vote in the system, weighted by user level, taken every year (counted in blocks) which will allow either an increase or a reduction in the overall block reward by a given percentage.

The lowest the block reward will ever be able to be reduced to is 1 QORT. The highest it will ever be able to be increased to is 10 QORT. (However, every 'rule' in the QORT Network, can be modified based on a proposal, and subsequent votes in favor of, within the system.)

No rule is forever in the QORT Network, it is only as long as it remains agreed upon and not challenged by a proposal and subsequent vote.

qort_model_-_block_rewards.txt · Last modified: 2019/11/18 17:22 by crowetic