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--- block_rewards_distribution [11/08/2021 20:28] – gfactor
+++ block_rewards_distribution [05/01/2023 01:54] – gfactor
@@ Line 1: / Line 1: @@
 ====== Block Rewards & Distribution ======
+{{:qortal_official_logo_transparent_.png?400|}}
-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.
+The block rewards in Qortal are distributed to every online minter, regardless of the minter who actually finds the block. The rewards are based on the level of the minter and how many online minters are taking part in each block. In other words, we all earn a portion of each block reward by simply running a node and supporting the network (starting at account level 1 which requires sponsorship and prevents bot farms). Each tiered group of leveled accounts share a percentage of each block reward as explained below.
 Behold, the Official QORT Coin:
@@ Line 9: / Line 10: @@
 More about QORT on the [[The QORT Coin]] page.
-===Minting Levels===
+=====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.
+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 a portion of each block reward.
-Due to the extreme importance of the minters, they are rewarded with the block rewards on the system. The rewards of every block, are distributed via the following:
+**Please note:** the rewards have been modified from their original percentages. The rewards of every block, are distributed via the following:
+- **Levels 1 and 2** minting accounts share **6%** of the block reward
+\\
+- **Levels 3 and 4** share **13%** of the block reward
+\\
+- **Levels 5 and 6** share **19%** of the block reward
+\\
+- **Levels 7 and 8** share **26%** of the block reward
+\\
+- **Levels 9 and 10** share **32%** of the block reward
+\\
+- **QORA holders transitioning into QORT coin share 1% of the block reward**
+\\
+- **Founders** share a minimum of **3%** 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.
+Also note tiers 7-8 and 9-10 require at least 30 minters before they become active. If a tier has between 1 and 29 minters, the rewards are combined and shared with the previous tier.
+**QORA Burn Rewards go to wallets every block without having to mint. This is the only reward that does not require minting. If you are also a minter, this reward is still issued on top of your minting reward.**
+===== Original Reward Percentages =====
+**Please note:** below are the original percentages for historical reference:
 - **Levels 1 and 2** minting accounts share **5%** of the block reward
@@ Line 28: / Line 51: @@
 \\
 - **Founders** share 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.
+===== More Info =====
 There are a few variables in calculating the exact block reward (which is virtually impossible to be 100% accurate each block). Let's break this down:
@@ Line 33: / Line 58: @@
 For example, if there were 50 minters who are level 1, and 50 minters who are level 2, there would be a TOTAL of 100 minters in the first block reward tier (5% between levels 1 & 2).
-In this same example, let's assume that all 100 are ACTIVE minters (each minter must be fully synced and actively minting each block to earn their portion of the block reward). 5% block reward divided by 100 minters equals 0.0005 per minter. Now let's assume the current block reward is 4.5 QORT (the block reward schedule changes as seen below on this page under the 'Block Rewards' subsection. 0.0005 of 4.5 QORT equals 0.00225 QORT per block for a level 1 or 2 minter (each minter would earn 0.00225 QORT per block in this example).
+In this same example, let's assume that all 100 are ACTIVE minters (each minter must be fully synced and actively minting each block to earn their portion of the block reward). 5% block reward divided by 100 minters equals 0.0005 per minter. Now, for easy math, let's assume the current block reward is 4.5 QORT (the block reward schedule changes as seen below on this page under the 'Block Rewards' subsection. 0.0005 of 4.5 QORT equals 0.00225 QORT per block for a level 1 or 2 minter (each minter would earn 0.00225 QORT per block in this example).
 Obviously we currently have more than 100 minters in this tier group, and as we experience further adoption, the total number of active minters in each tier will continue to grow. This is what we want! More minters, more network support, more decentralization! The collective attitude should be to support the network by running a node and with time, the value of QORT will surely RISE with such a limited release schedule along with further applicability of QORT within Qortal.
+===== Block Rewards =====
-=== 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.
+No Total Cap on QORT coin, approximately every ‘6 months’ (based on a calculation of 60 seconds per block which is slightly higher) 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 for 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 4.5 QORT per block as of February 7th 2021. You can see the current block height at www.exqlorer.com
-**Reward Schedule and Reduction**
+=====Reward Schedule & Reduction=====
 Block 1+ Reward: 5.00

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