Mining XENE with PoD
The Xenea provides mining rewards to network contributors through a proprietary consensus algorithm, PoD(Proof of Democracy).
Mining rewards are paid for contributions to consensus and for contributions to storage. The former encourages Escrow and Rep nodes to accelerate network decentralization and enhance security. The latter encourages DACS node operators to store data for extended periods of time with responsibility.
Mining for XENE will begin with the mainnet launch of the Xenea. The token quantity allocated for mining rewards is 6,311,520,000 XENE, where no additional tokens will be issued.
Mining Rewards Distribution Ratio
There will be multiple nodes supporting the Xenea. Mining rewards are allocated to each node as each block is generated every minute. The distribution ratio of mining rewards is as follows:
Table 1: Mining Rewards Distribution Ratio
Escrow Nodes
0.02%
Approve a transaction based on the results of Rep Nodes
Selected Rep Nodes
50% (*1)
Nodes that vote True/Not-True for each transaction
DACS Nodes
49.98% (*2)
Nodes that manage data for on-chain storage
*1 The 50% of rewards allocated to the selected Rep Nodes are further distributed as follows:
Equally divided among the five selected Rep Nodes.
Of each Rep Node’s share:
40% is distributed to Node NFT holders in proportion to their ownership share.
60% is distributed to mobile users connected to that Rep Node.
*2 The 49.98% of rewards allocated to DACS Nodes are distributed to Node NFT holders in proportion to their ownership share.
Halving
In order to control over-inflation of XENE, PoD block rewards of XENE will have a half-life of every two years. For the first two years after mainnet launches, block rewards generated per minute is 3,000 XENE and will be halved every two years thereafter; mining of XENE will continue until all 6,311,520,000 XENE allocated as mining rewards have been mined and issued.
The following table displays the amount of XENE generated in the first 10 years of the Xenea mainnet since its inception, which will exhaust 96.88% of total block rewards.
Table 2: Amount of XENE issued through mining (first 10 years)
1
3,000
1,577,880,000
1,577,880,000
2
3,000
1,577,880,000
3,155,760,000
3
1,500
788,940,000
3,944,700,000
4
1,500
788,940,000
4,733,640,000
5
750
394,470,000
5,128,110,000
6
750
394,470,000
5,522,580,000
7
375
197,235,000
5,719,815,000
8
375
197,235,000
5,917,050,000
9
187.5
98,617,500
6,015,667,500
10
187.5
98,617,500
6,114,285,000
*The year is calculated as 365.25 days taking leap years into account.
Chart 1: Amount of XENE issued through mining (first 20 years)
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