Exponentially decaying token rewards #340
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pallets/mining-rewards/src/lib.rs
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| TryInto::<u128>::try_into(current_supply), | ||
| TryInto::<u128>::try_into(tx_fees), | ||
| ) { | ||
| let unit = 1_000_000_000_000u128; |
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I think we store the decimals somewhere? So we could grab them from there instead of hard code.
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unfortunately there's no easy way to access it, it's in a different crate, I think it's better to redefine it here instead of creating a dependency, especially since it's only used for logging.
n13
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n13
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Magic numbers should be normalized, ie just multiply by UNIT so they're all absolute values of QUAN.
czareko
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czareko
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All magic numbers should go to the pallet configuration; besides that, it looks good.
Maybe 45 years is a bit too long?
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Pull request overview
This pull request implements an exponentially decaying token emission schedule for mining rewards, replacing the previous fixed block reward system.
- Introduces a dynamic emission formula:
reward = (max_supply - current_supply) / emission_divisorthat approximates exponential decay - Sets a 21 million token maximum supply with 50% of mining rewards allocated to the treasury
- Adjusts genesis configuration to allocate 30% of max supply (6.3M tokens) to the treasury at launch
Reviewed changes
Copilot reviewed 6 out of 6 changed files in this pull request and generated 7 comments.
Show a summary per file
| File | Description |
|---|---|
| runtime/src/genesis_config_presets.rs | Updates genesis balances to allocate 100,000 tokens per endowed account and 6.3M tokens to treasury (30% of max supply) |
| runtime/src/configs/mod.rs | Configures mining rewards pallet with MaxSupply (21M), EmissionDivisor (26.28M), and TreasuryPortion (50%) parameters |
| pallets/mining-rewards/src/lib.rs | Implements dynamic reward calculation based on remaining supply, splits rewards between treasury and miners, adds detailed logging |
| pallets/mining-rewards/src/mock.rs | Updates test configuration with new emission parameters (scaled for test simplicity) and removes fixed reward constants |
| pallets/mining-rewards/src/tests.rs | Refactors all tests to calculate expected rewards dynamically rather than using hardcoded values |
| pallets/mining-rewards/simulate_emissions.py | Adds Python simulation script to model the emission schedule over time and analyze curve characteristics |
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Maybe, but I also was trying to keep the initial inflation below 10%, it's currently 7%. I have a spreadsheet I can show you. |
* exponentially decaying token rewards * script to simulate emissions * clean up constants and switch python script to rust test * log if we hit max supply somehow
this heuristic results in a close approximation of an exponential curve. The constant is chosen so that, with no burns, the token supply will be 99% emitted in about 45 years.