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qort_model_-_block_rewards [08/01/2020 02:58] – gfactor | qort_model_-_block_rewards [03/16/2021 03:09] – gfactor | ||
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- | ====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. | + | The block rewards in Qortal |
- | See distribution chart below (taken from [[QORT model - Leveling System|Leveling System]]): | + | Behold, the Official |
+ | {{ | ||
+ | :45d8cf2d-33c3-469d-8a41-da72c44afea9.jpeg | ||
===Minting Levels=== | ===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' | + | 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' |
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: | 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: | ||
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- **Levels 9 and 10** will obtain **25%** 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** | + | - **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 ' | - **Founders** will obtain a minimum of **5%** of the block reward, and/or the ' | ||
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=== Block Rewards === | === Block Rewards === | ||
- | The block rewards on QORT are meant to be never-ending. | + | The block rewards on Qortal |
- | Since QORT is a service token, there should always | + | 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. |
- | The **initial block reward will be 5 QORT**, and shall decrease roughly every 6 months (counted in blocks) until reaching a reward of 2 QORT where it remains. Block reward decreases by .25 QORT each 6 months. This means block reward will go from 5 QORT to 4.75 in 6 months. Then 4.5 in another 6 months. And so on. | + | **Reward Schedule and Reduction** |
- | 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. | + | Block 1+ Reward: 5.00 |
- | 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 ' | + | Block 259,201+ Reward: 4.75 |
- | 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. | + | 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 |