PATCH: BLOCK REWARD REBALANCE AND HALVING
The block reward no longer scales with the number of miners on both halves at once. The treasury share stays exactly as it was, and the network emission on top of it is now fixed and halving. Block rewards drop from today, and in exchange the economy stops running away from itself as the network grows.
HOW THE BLOCK REWARD WORKS NOW
HALVING IS LIVE
WHAT THIS MEANS FOR YOU
WHY
SMALLER CHANGES
The block reward no longer scales with the number of miners on both halves at once. The treasury share stays exactly as it was, and the network emission on top of it is now fixed and halving. Block rewards drop from today, and in exchange the economy stops running away from itself as the network grows.
HOW THE BLOCK REWARD WORKS NOW
- Two parts, added together. The treasury share is 4.5% of everything the Syndicate Treasury holds. The network emission sits on top of it.
- The miner multiplier applies to the network emission only. Until now it multiplied the treasury share as well, which meant a growing network created coins that nothing backed.
- The treasury share is unchanged. It is still 4.5% per block, still refilled by repairs, upgrades, the Black Market and exchange fees. Spend more, and it pays more.
- The multiplier itself is unchanged and still rises with the number of active miners, up to 7x.
HALVING IS LIVE
- The network emission halves every 2,500 blocks, roughly once every three months at the current block rate.
- It starts at 1.0000 NVC before the multiplier is applied.
- The treasury share does not halve. It tracks what the network spends, so it looks after itself.
- The next halving block is shown on the mining page.
WHAT THIS MEANS FOR YOU
- Block rewards are lower from the first block after this update. At the network size we have right now that is a drop of a little under 40%.
- The reward split is untouched. 25% to the finder, 25% shared equally between everyone online, 50% shared by hashrate.
- Nothing is being taken out of your wallet. This only changes what future blocks pay.
- Spending still pays you back. Every Shard that goes into the treasury comes back out through the treasury share, so an active network earns more than a quiet one.
WHY
- The old formula grew faster than the network did. Both the treasury and the multiplier climbed with the player count, so the reward climbed with both at once while the things that drain coins only climbed with one.
- At the size we are now it was still holding. At two or three times this size it would not have been, and fixing it later would have meant a far harsher cut.
- The emission is now tied to what the network actually spends, not to how many people happen to have a rig switched on.
SMALLER CHANGES
- The mining page and the block history page now show both parts of the reward separately, so you can see what came from the treasury and what came from the network.
- The block history page was showing a different reward figure than the mining page. Both now read from the same place.